Centerra Gold Inc. (CGAU) is a gold mining company engaged in acquiring, exploring, developing, and operating gold and copper properties internationally. Its principal projects include the 100% owned Mount Milligan gold-copper mine in British Columbia, Canada. On the other hand, Equinox Gold Corp. (EQX) engages in acquiring, exploring, and developing mineral deposits. The company primarily explores gold and silver deposits. In addition, it holds a 60% interest in the Greenstone project located in Ontario, Canada.
With spot gold at roughly $1,845.58 per ounce, gold prices have risen to a two-month high on continued concerns over surging inflation, geopolitical instability, and the uncertainty over omicron’s impact. The demand for gold is primarily rising because it allows investors to hedge their portfolios against uncertain market conditions. The potential monetary policy tightening and a weakening greenback should drive the safe-haven demand for gold further. Therefore, both CGAU and EQX should benefit.
