Novagold Resources Inc. and Paulson Advisers LLC have announced a $1 billion deal to acquire Barrick Gold Corporation's 50% stake in Donlin Gold LLC, establishing a new partnership aimed at advancing the Donlin Gold project in Alaska.
Market indexes closed off their intra-session lows this Monday… but that’s about the extent of the good news for equities. The Dow closed -971 points today, -2.48%, while the S&P 500 dropped -124 points, -2.36%.
Gold surged to fresh all-time highs on Monday, with bullion jumping 2.5% to $3,410 per ounce by 11:20 a.m. ET, as mounting distrust in U.S. financial assets and inflation fears drive a flight to safety unlike anything seen since the global debt crises of the early 2010s.
The U.S. Dollar Index, which measures the dollar against a basket of six major currencies, fell to 98.30, its lowest level since March 2022, in pre-market trade on Monday.
Gold prices exceeded $3,000/oz, with potential to reach $3,500 if investment demand rises. China's insurance sector and central banks may increase gold holdings, while ETF inflows signal growing retail interest. Trade policy uncertainty and a weaker U.S. dollar could further support prices.
