primer domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home/ikq167bdy5z8/public_html/propertyresourceholdingsgroup.com/wp-includes/functions.php on line 6114At this year’s event, sentiment is mixed, with most investors worried about inflationary pressures, the possibility of a recession, and economic policy.
The annual Prospectors and Developers Association of Canada (PDAC) convention has begun after being postponed from March due to pandemic-related restrictions.
The three-day event, held at the Metro Toronto Convention Center from June 13 to 15, has returned to its traditional in-person format after the 2021 conference was entirely online; a digital component will follow on June 28 and 29.
Despite the organisers’ best efforts, registration delays at the event resulted in massive lines and bottlenecks on day one; they were resolved by noon.
At this year’s event, sentiment is mixed, with most investors concerned about rising inflation, the possibility of a recession, and economic policy.
While many commodities are experiencing high prices due to supply chain issues, war, and rising demand, stock market bearishness has eroded investor confidence and increased risk aversion.
Mark Ferguson, research director and head of mining studies at S&P Global, highlighted this in the first of the technical presentations, an outlook and review of the mineral exploration sector.
During his speech, Ferguson stated that exploration budgets will exceed US$11.2 billion in 2021, with an additional 200 companies entering the sector.
Unfortunately, due to market volatility, 2022 has not seen the same level of exploration financing growth. Despite current financing challenges, Ferguson stated that the overall mining sector’s market cap is increasing, currently standing at US$2.5 billion. He expects mining budgets to rise by 5 to 15% this year, with gold and copper exploration being the main drivers.
Despite positive outlooks, uncertainty was a recurring theme on the first day of the conference, as highlighted by Nicky Shiels of MKS PAMP during her presentation.
Shiels noted that precious metals, particularly gold, have outperformed technology and cryptocurrency by 30 percent. She also anticipates a shift away from energy and toward gold as gold’s appeal as a hedge against inflation grows. Shiels acknowledged that price forecasting is especially difficult now because gold’s future price is heavily dependent on what measures the Federal Reserve uses to combat inflation.
We’ll learn more about the Fed’s impact on gold prices later this week, when the Federal Reserve Open Markets Committee meets on June 14-15 to try to steer the economy to a soft landing.
