A Look at the Strength Behind the Gold Commodity

Gold investing is an option that financial investors turn to whenever they worry about economic and political conditions. To date, many are worried about the uncertainties posed by the U.S. political climate and the economic setbacks of Trump’s trade wars. That is why since 2019 up to the present, gold and other precious metals showed strong performances as investment commodities.

Gold and precious metal prices have risen dramatically and many prospectors believe the best days are yet to come ahead, until such time that stability in both political and economic conditions have been achieved.

Still, not all financial experts are inclined to put their trust in physical gold as the next best investment. Yet mining companies contend that they are tackling business interests as a whole, to which gold plays only second fiddle. Asserting that well-run mining companies can produce profits that can turn leads into solid investment performance.

In a way, this stance is true because even if a business is engaged in the production of gold, well-managed mining firms can further growth. They can simply invest in other types of businesses, particularly in products or services that are in demand in the communities where they operate prosperously. After all, not all financial investment strategies lead to the financial trading markets.

Other investment options include real estate, in which property and housing rentals are regarded as among the most lucrative. Still, when taking this route, one has to invest wisely by making sure the rental properties are under proper rental property management.

A Cursory Look at the Top Gold-Producing Regions in the U.S.

According to Statistica, the U.S. currently ranks as the fourth largest producer of gold on a worldwide scale. China, Australia and Russia are in the lead as top three. Canada is not too far behind the U.S. as the fifth largest gold producer.

The state of Nevada has maintained the reputation of being the largest producer of gold in the U.S. In 2018, Nevada gold mines produced as much as 78% of U.S. gold, which also represented five percent (5%) of gold produced worldwide for the year. The percentage equates to an equivalent amount of 5,581,160 in troy ounces or 173.6 in tonnes,

The following are the leading large cap mining firms operating in Nevada:

Carlin Trend Gold Mine

The Carlin Trend Gold Mine near Elko, Nevada is actually a mine series comprising four underground and 13-open pit mines. Owned and founded by the Newport Mining Corporation, this Nevada gold mine started operations in 1965 when gold was discovered in the area in 1961. It is estimated that annually, about 2.5 million ounces of gold produced in the U.S. come from the Carlin Trend mines.

Goldstrike Mine

This Nevada mining complex belongs to prominent Canadian mining firm Barrick Gold Corporation, which is also located in Carlin. The complex includes Betze-Poste, an open-pit mining site that is capable of producing as many as 1.50 million troy ounces per year. Next to the Betze-Poste area is the Meikle underground mine.

The Cortez Gold Mine

This Nevada gold mine is also known as the Cortez-Pipeline, located about 60 miles south of Elko. Originally a joint venture between Rio Tinto and Placer Dome, ownership subsequently transferred to Barrick Gold when it acquired Placer Dome in 2006 and another shareholder’s stake in 2008. The mine boasts reserves of 13 million ounces of gold, whilst capable of producing over 400,000 ounces of gold per year.