Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
For an asset touted as a hedge against inflation, gold’s doing pretty well right now.
The metal is off to its best start to the year since 1974 even as expectations for gains in consumer prices are near their weakest since the global financial crisis seven years ago.
That’s odd. Gold has soared during times of high inflation in the past. In the late 1970s when annual U.S. consumer-price gains were on their way to a peak of almost 15 percent, it had its biggest ever rally. One reason for the shift now is that low inflation may be a sign the economy remains weak, deterring the Federal Reserve from tightening policy.
