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As of July 22, 2024, investors are possibly waiting for a sustained bull market in gold, and that has brought plenty of companies into focus. One of these is Clifton Mining Company (OTC:CFTN), which is involved in the exploration and development of lead, silver, and gold. In 2024 so far, the price of gold has continued to progressively hit new highs owing to a wide range of factors.
Some of the major factors include the rising risks on the geopolitical front, outlook with regards to interest rates, budget deficits, buying from central banks, and hedging trades against inflation. One of the key reasons behind the seemingly unstoppable rally in gold is down to the expectation of multiple rate cuts from the Federal Reserve with the view of controlling inflation.
In the past, lower interest rates in the United States and the weakness of the dollar had both been significant factors for gold prices; however, that has changed. Experts state that there had been a decoupling between gold prices and United States yields. At a time when the price of gold could be on the way up, it is only natural for investors to look into companies like Clifton Mining.
The company was established in 1993, and over the years it has emerged as a major player in the market. Even though a prolonged bear market in metals prices had proven difficult for many companies, Clifton Mining continued to grow. It continued to pick up new assets, and instead of diluting its stock, the company bought back four million shares instead.
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