Titan, India’s top jewelry maker, sees shoppers turning cautious as record-high gold prices weighed on demand in the world’s second-largest bullion market https://t.co/5enxcpv6Ti ...

This is Wall Street Week. I'm David Westin, bringing you stories of capitalism. Gold is all over the place, from setting new records to plummeting, to a partial recovery. What does it mean for investors and for those getting the gold out of the ground? Plus, the US had its China shock 20 years ago. Is Europe in store for its own version this time as China looks to find new markets for its exports? And investing in art can be fun. It can be satisfying. But like any investment, it can go down as well as up. W ...

Core Insights - Centerra Gold Inc. (CGAU) and IAMGOLD Corporation (IAG) are attracting investor interest due to strong gold prices and improving operational metrics in the precious metals sector [1][2] Group 1: Centerra Gold Inc. (CGAU) - Centerra Gold reported a strong third quarter with consistent production, generating significant cash flow from its core assets, producing 49,234 ounces at the Öksüt Mine and 32,539 ounces of gold along with 13.4 million pounds of copper at the Mount Milligan Mine [3][6] - The Mount Milligan Mine's long-term permitting and technical work has been advanced, extending operational visibility to 2045 and allowing for a 10% processed throughput expansion by 2028 [4][5] - As of the end of Q3, CGAU had approximately $561.8 million in cash, a long-term debt-to-capitalization ratio of 2.3%, and a free cash flow of about $99 million, providing substantial liquidity for operations and growth projects [6][9] Group 2: IAMGOLD Corporation (IAG) - IAMGOLD achieved a total attributable gold production of approximately 190,000 ounces in Q3 2025, with the Côté Gold Mine producing a record 106,000 ounces [7][10] - The Essakane Mine produced 92,000 ounces despite operational challenges, while the Westwood Complex contributed around 23,000 ounces [8][12] - IAG's cash and cash equivalents were about $314 million at the end of Q3, with a long-term debt-to-capitalization ratio of 21.3% and a record mine-site free cash flow of $292 million [12] Group 3: Comparative Analysis - CGAU's stock has increased by 198.7% over the past year, while IAG's stock has risen by 248.5% [15] - CGAU is trading at a forward 12-month sales multiple of 2.91X, compared to IAG's 4.47X [16] - The Zacks Consensus Estimate suggests a 47.8% year-over-year rise in CGAU's fiscal 2026 EPS, while IAG's EPS is expected to rise by 98.1% [19][20] Group 4: Investment Outlook - CGAU is positioned as a more reliable investment due to its stronger balance sheet, lower leverage, and higher liquidity, while IAG presents upside potential through the ramp-up of the Côté Gold project, albeit with execution risks [21][22] - CGAU holds a Zacks Rank of 1 (Strong Buy), while IAG has a Zacks Rank of 3 (Hold) [22]

Core Viewpoint - Gold prices have increased, reflecting a positive sentiment in the market, while Hong Kong stocks have experienced a rally, indicating a recovery in investor confidence [1] Group 1: Gold Market - Gold prices have gained, suggesting a shift in investor preference towards safe-haven assets amid market volatility [1] - The increase in gold prices is attributed to various economic factors, including inflation concerns and geopolitical tensions [1] Group 2: Hong Kong Stock Market - Hong Kong stocks have rallied, showing a significant recovery from previous declines, which may be driven by improved economic outlook and investor sentiment [1] - The rally in Hong Kong stocks indicates a potential rebound in the region's economic activity, attracting both local and foreign investments [1]

Industry Overview - Gold has increased by 72% over the last year, driven by geopolitical tensions and softening monetary policies from the Federal Reserve [1] - The market is pricing in a gold-friendly outlook for 2026, with expectations of lower rates and a softer dollar [2] Company Profile: Barrick Mining - Barrick Mining is a mining and development company headquartered in Toronto, Canada, with operations in 17 countries across five continents [4] - The company has a market capitalization of $76.5 billion [4] Stock Performance - Barrick Mining's shares have surged by 184% in 2025, significantly outperforming the S&P 500, which is up nearly 16%, and the VanEck Gold Miners ETF, which is up 164% [5] - The stock's price-to-earnings ratio has increased to 21.8, up from around 15 for most of the year, indicating a premium valuation [6] Financial Performance - Barrick Mining reported third-quarter revenues of $4.18 billion, a 23% increase year-over-year, attributed to rising gold prices [7] - Net earnings reached $1.3 billion, up 170% from the previous year, with free cash flow of $1.47 billion, up 233% [7] - Earnings per share (EPS) improved to $0.58, exceeding analysts' expectations and up from $0.30 a year ago [7] Dividend Information - Barrick Mining pays a modest dividend of 1.5%, or $0.70 annually per share, with a sustainable payout ratio of 20.7% [6] - The company increased its dividend payout by 16% in the most recent disbursement [6]

Market Trends & Economic Indicators - Gold prices hit a record high, up 70% this year, with 50 record highs this year [1] - Copper prices also reached a record high, increasing by 30% this year, driven by AI data center usage [2] - US holiday retail spending increased by 42% year-over-year across all payment types [3] - Gas prices hit a 4-year low average nationwide ahead of the holiday travel rush [2] - Strong GDP print of 43% leads to uncertainty about future rate cuts [5] Fintech & Investment Opportunities - Fintech valuations are reflecting a negative scenario, potentially creating investment opportunities [9] - Consumer spending is supportive during the holiday season, impacting fintech [8] - Some fintech business models, like Block and PayPal, are seen as mature [11] - Dave, a neo bank providing short-term loans, shows promise in meeting consumer financial needs [12][13] Automotive Industry & Ford's Strategy - Ford's stock is up 36% year-to-date, despite a $195 billion charge tied to EV plans [30] - Ford CEO Jim Farley highlights a shortage of 400000 repair technicians across the economy, with 6000 bays in Ford dealerships without technicians [33][38] - Ford faces a $2 billion net tariff impact, hindering further US investments [49] - Ford acknowledges that customers are not interested in $75000 EVs and is shifting focus to more affordable EVs [53][54] AI & Technology - The market is pricing in tech and the S&P at 23%, but expectations are adjusted down to 18% [16][17] - Software names like Salesforce and Intuit may benefit from AI [17] - HUT 8's deal with Enthropic and Fluid Stack, backed by Google, indicates strong demand for AI infrastructure [22] - Service Now will acquire cyber security startup Armis in a $775 billion deal to expand its cyber security offerings amid the AI boom [28]

Unprecedented gold prices and a surge in retail sales may push revenue at Thailand’s largest gold trading house to a record $156 billion this year, according to Hua Seng Heng CEO Tanarat Pasawongs https://t.co/4qrv1cYxIz ...

Mining companies are selling shares at the fastest clip in a decade, and investors looking for exposure to sharply higher gold prices and in-demand critical minerals can’t get enough. https://t.co/HdowSijIdE ...

Gold Prices Fall Most Since 2013—Here’s Why Metals Are Plunginghttps://t.co/xJyKCLJqu8 https://t.co/sdwriQpvlK ...

South African Reserve Bank Governor Lesetja Kganyago says that locking in a lower inflation goal could underpin another drop in bond yields. He also talks about gold after the yellow metal smashed through $4,000 an ounce for the first time earlier this week. "We still have gold in the ground, so if we need it we will just go and dig some more," Kganyago says. He speaks to Bloomberg's Jennifer Zabasajja. -------- More on Bloomberg Television and Markets Like this video? Subscribe and turn on notifications so ...