Financings have been front-running November gold-price pop

Before gold went on a run, company financings in the precious metal space picked up, said CEO of Oreninc Kai Hoffmann.

Hoffmann spoke to Kitco in mid-November at the Deutsche Goldmesse show in Frankfurt, Germany. Oreninc tracks financings for juniors and miners.

Early this month, two pieces of news propelled gold higher: headline inflation rose to 6.2%, and the $1 trillion U.S. infrastructure bill was signed into law. Gold had a solid breakout trading above $1,850 an ounce.

Hoffmann said the Oreninc index had a “bit of a rally” with an “uptick in the last three to four weeks. [Financings] have been front running the pop in the gold price.”

Hoffmann also weighed in on gold versus bitcoin, noting that the latter is “very volatile.”

“Themes we’ve been hearing [at the conference] is outflows from crypto into gold. Bitcoin [supply] … is limited and gold is not, meaning that bitcoin may pop. It’s very, very volatile. Gold is more stable,” said Hoffmann adding that gold may perform better in a black swan event.

00:25 – Resource financings recover
3:24 – Gold’s advantage over bitcoin
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