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Gold price sees majors shine during difficult quarter

The majority of senior gold producers saw production fall and costs rise in the quarter to June 30, largely due to temporary interruptions due to the COVID-19 pandemic. However, surging gold prices generally resulted in higher net income and further strengthening of balance sheets with cash added and debt reduced, and many companies increasing their dividend.

Gold price sees majors shine during difficult quarter Gold price sees majors shine during difficult quarter Gold price sees majors shine during difficult quarter Gold price sees majors shine during difficult quarter Gold price sees majors shine during difficult quarter

Image: Newmont

Aggregate gold production fell 11% to 5.5 million ounces from 6.2Moz in the prior year period as all but two of the 10 companies covered in this group saw production fall.