'The last remaining headwind to gold' - Minera Alamos's Doug Ramshaw on precious metal outlook
Kitco News) - A lot of economic factors favor gold, noted Minera Alamos President Doug Ramshaw.
On Friday Ramshaw recorded Kitco Roundtable with mining audiences manager Michael McCrae and correspondent Paul Harris.
Minera Alamos (TSX VENTURE:MAI) describes itself as a proven mine builder. The company focuses on gold operations in Mexico. This week the company announced a $25 million financing for its Cerro de Oro Gold project. In 2022 the company sold 11,667 ounces from its Santana project.
Ramshaw talked about the outlook for gold. Ramshaw noted that strong crypto markets put a damper on precious metals last year. That weight is lifted, said Ramshaw, noting that a lot of other factors are lining up for gold.
"Now we got inflation, why isn't gold moving?" asked Ramshaw. "The strength of the U.S. dollar is a significant headwind for that...probably the last remaining headwind to gold. I do think 2023 offers a far brighter outlook for gold than 2022."