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Innovative Apps Offer Investors New Avenues to Gold Trading

FinancialBuzz.com News Commentary


News provided by

FinancialBuzz.com

Oct 12, 2020, 09:00 ET

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NEW YORK, Oct. 12, 2020 /PRNewswire/ -- As the presidential election approaches, speculation regarding a new stimulus deal has affected the markets. For instance, optimism over more federal fiscal aid has pushed the stock market and gold higher at the end the week. To reduce the impact of the pandemic on the economy, various measures have been taken, such as near-zero interest rates and economic stimuluses for business and individuals. Such measures have impact the price of precious metals. "What is happening in gold is we've had a stimulus-on/stimulus-off style news flow. This has whipsawed a lot of gold traders," TD Securities commodity strategist Daniel Ghali explained, according to Kitco News on Friday. "Right now, the focus will continue to be on the election. Election countdown mode is here, so the next 20 days will mostly revolve around that… With both the Trump and Biden agendas estimated to cost between $5 trillion and $5.6 trillion over the next decade, both plans would provide substantial tailwinds for the long gold trade." Coro Global Inc. (OTC: CGLO), Yamana Gold Inc. (NYSE: AUY) (TSX: YRI), Kinross Gold Corporation (NYSE: KGC) (TSX: K), NovaGold Resources Inc. (NYSE: NG), Harmony Gold Mining Company Limited (NYSE: HMY).

In addition to the pandemic and its implications, various recent technological innovations have had an impact on gold demand as well. Various financial services, through which gold can be purchased, have shared recent developments designed to make gold trading easier and more accessible to a wider demographic. For example, the British-based Glint Pay Services announced a new peer-to-peer payment services which allows users to send amounts of gold directly to each other, all within the company's app. "Glint's P2P technology enables gold, trusted globally, to be used as money in electronic payments beyond the existing fiat money system; it frees us all from the whims of government-issued currencies," said Glint CEO and founder Jason Cozens.

Coro Global Inc. (OTCQB: CGLO) announced last month, "an alliance with Dillon Gage, the world leader in physical precious metals trading and technology, to support the operations of its mobile payment app CORO, which allows customers to easily exchange, send and save gold as well as U.S. dollars.

CORO customers can instantly exchange U.S. dollars for gold on the app, as well as save gold and send it to other CORO customers. Customers' gold accounts are matched by their equivalent in physical gold, which is audited and securely stored by the International Depository Services Group, a wholly-owned subsidiary of Dillon Gage.

CORO has just been released in the Apple App and Google Play stores to residents of Florida, Arizona, Arkansas, Alaska, Delaware, Idaho, Montana, Massachusetts, South Carolina, and Wisconsin. The company is planning to release CORO in additional U.S. states over the coming months.

'It's extremely important for our customers to know that the amount of gold they see on their screen represents a tangible amount of physical gold in an independent vault,' said J. Mark Goode, CEO of Coro Global Inc. 'Given today's economic uncertainty, we support the use of gold as money, which is physical, and historically resilient.'

The security of customers' personal data and their money has always been important to Coro and its partners. With more than 40 years of experience serving precious metals dealers, financial institutions, banks, and brokerage houses around the globe, International Depository Services Group is well positioned to insure, audit and verify all of the physical gold purchased by CORO customers.

'We believe that gold should be accessible to everyone,' said Mark Furmanek, COO of Dillon Gage. 'We're proud to bring our innovative experience to help support CORO's mission of democratizing access to gold.'"

For our latest "Buzz on the Street" Show featuring Coro Global Inc., Ltd. recent corporate news, please head over to: https://www.youtube.com/watch?v=5akNYq3V6OI&ab_channel=FinancialBuzzMedia

Yamana Gold Inc. (NYSE: AUY) (TSX: YRI) is a Canadian-based precious metals producer with significant gold and silver production, development stage properties, exploration properties, and land positions throughout the Americas, including Canada, Brazil, Chile and Argentina. Last week the Company announced that the Financial Conduct Authority ("FCA") has approved its Prospectus, which includes a Competent Person's Report, in support of its intention to list on the London Stock Exchange ("LSE"). Daniel Racine, President and Chief Executive Officer of Yamana Gold, commented: "We are excited to begin trading on the London Stock Exchange and offer UK and European investors exposure to a pure-play senior gold producer with a high-quality asset portfolio in mining-friendly jurisdictions in the Americas, offering a unique investment opportunity."

Kinross Gold Corporation (NYSE: KGC) (TSX: K) announced earlier this year that it has filed a new technical report for its Paracatu operation in Brazil. Paracatu is a cornerstone, long-life operation in Kinross' portfolio that is expected to produce an average of approximately 540 Au koz. annually over 12 years from 2020 to 2031. Total production over the remaining mine life is expected to increase approximately 24% compared with the prior technical report that was published in 2014.The new technical report is based on an asset optimization program that commenced in 2018 and was completed in late 2019 with the successful implementation of a comprehensive grade control program. The results of the program include better characterization of the orebody, an improved ability to predict and react to ore variability, and better mill efficiency with improvements in throughput and recovery.

NovaGold Resources Inc. (NYSE: NG) announced earlier this year that its flagship Donlin Gold project, which NOVAGOLD owns equally with Barrick Gold Corp. ("Barrick"), received the final State Right-of-Way (ROW) authorization for the buried natural gas pipeline, issued by the Alaska Department of Natural Resources (ADNR) on January 17, 2020. Additionally, ADNR denied an appeal and affirmed the Division of Mining, Land, and Water's original January 18, 2019 approval of Donlin Gold LLC's Reclamation Plan and its accompanied permit. "We are very pleased to see the issuance of key transportation and energy infrastructure approvals for Donlin Gold," said Greg Lang, President and CEO.

Harmony Gold Mining Company Limited (NYSE: HMY) announced earlier this year that it has agreed to acquire AngloGold Ashanti's South African business, thereby consolidating its position as South Africa's primary gold producer. The acquisition, which will see Mponeng and Mine Waste Solutions incorporated into the Harmony portfolio, enhances Harmony's near-term production by adding annual gold production of approximately 350 000oz per annum; increases Harmony's South African reserves by 8.27 million ounces (excluding Mponeng below infrastructure reserves) and improves Harmony's portfolio mix between surface and underground operations. "Over the past two years, Harmony has added over 500 000 quality gold ounces per annum through the acquisition of Moab Khotsong and now Mponeng and Mine Waste Solutions. The acquisition has the potential to improve our overall recovered grade and increasing our cash flow margins," said Harmony CEO Peter Steenkamp.

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About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For coro global inc. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated three thousand dollars by meridian ventures. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

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