VanEck’s Joe Foster Releases Latest Monthly Commentary on the Gold Market

Includes thoughts on the Newmont/Barrick news; highlights commitment to and expectations for the junior miners category

NEW YORK--()--VanEck’s Joe Foster has today released his latest monthly commentary: Gold Market Update for February 2019.

In the latest edition of this widely followed update, Foster, Portfolio Manager for the VanEck International Investors Gold Fund (ticker: INIIX), shares his thoughts and updates following an eventful month for gold and gold-related equities.

Among the highlights in the piece:

  • On recent market conditions:It looks like the strong central bank buying that characterized 2018 continues.”
  • On the outlook for gold:Weakness in housing, autos, retail and manufacturing combined with the lagged effects of the Fed’s tightening in 2018 could again weigh on the stock market in 2019. Another selloff might be the catalyst gold needs to break through its price range.”
  • On recent consolidations:Merger and acquisition activity has now reached the ultimate level in the gold industry.”
  • On Barrick’s hostile bid for Newmont:The merger focuses attention on the potential gains that unitizing Nevada would generate for both companies.
  • On the case for junior miner exposure: “We continue to maintain a portfolio of junior developers with good projects… we expect our patience to pay off once investors return to the junior sector.”

The complete update is available here.

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This is not an offer to buy or sell, or a solicitation of any offer to buy or sell any of the securities mentioned herein. Certain statements contained herein may constitute projections, forecasts and other forward looking statements, which do not reflect actual results, are valid as of the date of this communication and subject to change without notice. The information herein represents the opinion of the author, but not necessarily those of VanEck.

You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to the risks associated with concentrating its assets in the gold industry, which can be significantly affected by international economic, monetary and political developments. The Fund’s overall portfolio may decline in value due to developments specific to the gold industry. The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, or political, economic or social instability. The Fund is subject to risks associated with investments in Canadian issuers, commodities and commodity-linked derivatives, commodities and commodity-linked derivatives tax, gold-mining industry, derivatives, emerging market securities, foreign currency transactions, foreign securities, other investment companies, management, market, non-diversification, operational, regulatory, small- and medium-capitalization companies and subsidiary risks.

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Mike MacMillan/Chris Sullivan
MacMillan Communications

Release Summary

VanEck gold expert Joe Foster has released his latest monthly commentary, looking at M&A in the gold space, junior miners and more.


Mike MacMillan/Chris Sullivan
MacMillan Communications