Canada’s largest mining companies played a key role in the international mining sector’s developing growth. This is according to the PwC’s Mine 2017 report, the report said that Canada led the way on equity financing last year (2016), along with TSK or the Toronto Stock Exchange and TSX Venture responsible for 57% of global financing during the year, which has made changes on Gold price in Canada.
National Mining Leader of PwC Canada, Liam Fitzgerald, said that as the global mining industry is moving out of a challenging time into a period of recovery, it is encouraging for Canada to be seen as an international mining leader—in a variety of areas. He also added that having four Canadian companies amongst the largest metal streaming and royalty businesses in the world demonstrates the country’s leadership not only in alternative financing but in the sector as a whole. This has given the gold price in Canada a boost and has been seen advancing positively.
On July 19, 2017 gold price in Canada finishes a few cents higher, extending its streak of gains to a fourth session by as hair, this happened as the greenback failed to recover from its 10-month lows as predictions for another United States interest rate hike—which is expected to occur later this year, has weaken.
In accordance to this update about the gold price in Canada, August gold rises up and settled at $1,242 an ounce, this is after trading between $1.235.10 and $1.243.50. According to FactSet’s data, the contract held ground at its highest finish since July 30; it has matched a climb of 2% over the past three sessions.