Gold will continue its role as a store of value, said Newmont’s CEO Tom Palmer in an interview with Kitco today.
Newmont released its Q1 Thursday. In the year since Newmont’s last Q1, bitcoin has traded up from under $9,000 to over $50,000 with broadening institutional support.
“Gold is very durable. It’s been a store of wealth for thousands of years for multiple civilizations. When I look at some of the World Gold Council reports, you’re still seeing gold very much has its role as that store of value,” said Palmer.
“It’s an $11 trillion market. It’s liquid, it’s regulated, it’s easily transferable. I think gold is going to be around for a very long period of time.”
0:17: Newmont’s Q1 results
1:07: Newmont’s Ahafo and Yanacocha
2:24: Newmont’s copper exposure and energy transition
3:50: Autonomous trucking
11:10 Gold and bitcoin
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