welcome back to our weekly update I'm Charlotte McLoud with investing news.com and I'm here to give you a quick look at our top stories for the week the gold price ended last week with a bang breaking through 2400 per ounce for the first time ever it retreated below that level this week but remains historically High I've asked a number of experts about what's behind Gold's big move and while their opinions differ on the specifics they all agree that it still has plenty of room to run Jordan
Roy burn of the daily gold may have put it best he said that we're reaching the point where hyperbolic statements about the gold price could actually come true of course gold stocks continue to underperform compared to the metal itself partially due to a lack of investor interest and unfortunately this week brought news that may further dampen participation in the sector at least in Canada released on April 16th the federal government's 2024 budget proposes an increase in the capital gains inclusion rate it would boost tax
ation on capital gains of over 250,000 from 1/2 to 2/3 meaning corporations trusts and individuals that receive over 250,000 in capital gains in a year will be taxed on 2/3 of their earnings various mining industry groups have weighed in on the change explaining how it's likely to create hadwins in Canada's resource sector especially for exploration stage companies for its part the Canadian government has said only 0.13% of Canadians are expect expected to pay more in personal income tax on
their capital gains conservative and vaqua leaders have already said they won't vote in favor of the budget it remains to be seen whether the NDP will do so police have laid charges and made arrests in connection with what's being described as Canada's largest gold Heist the news comes a full year after thieves stole 22.5 Million worth of gold and other valuables from Toronto's Pearson International Airport in an April 17th press conference law enforcement said two Air Canada employees helped pull off
the heist and noted that their investigation also uncovered a large quantity of firearms headed for Canada warrants are still out for a number of people connected with the incident and most of the stolen goods have not been found the silver Institute released its latest report on the white metal saying that industrial demand Rose 11% year on-ear to hit a record 654 .4 million o in 2023 according to the organization overall demand exceeded Supply last year creating a deficit of 184. 3 million ounces last year's deficit was the third
in a row for silver and the silver Institute is calling for a fourth in 2024 it's projecting a shortfall of 25.3 million o which would be the second largest in over 20 years I'll leave the link to those stories in the video description if you'd like to learn more that's all for this week if you like this video make sure you subscribe to our Channel we'd also love to hear your thoughts so leave us a comment below we'll see you next time [Music]
Post a Comment