US- and Canada-listed global gold mining behemoth Barrick Gold has released a good June quarter result showing a surge in profit on a higher gold price. Guidance for 2020 was maintained, with Barrick on track to hit its full-year forecast.

We believe the investment case for precious metals – and gold in particular – is compelling as a coronavirus-induced monetary and fiscal splurge further debases fiat currencies, and drives further inflation. Barrick Gold is well leveraged to this scenario.