Gold-Buying Spree Adds $1.8 Billion to Fortunes of Metal Miners
- Mining billionaires including Kerimov, Sawiris profiting
- Mobius, Dalio argue central bank policies will spur gold rally
Photographer: Simon Dawson/Bloomberg
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Billionaire fortunes are getting whipsawed by global trade tensions, but for one group -- tycoons with major holdings in gold-mining assets -- it’s a prosperous time.
Four mining billionaires, including Egypt’s Naguib Sawiris and Russia’s Suleiman Kerimov, have grown their fortunes by $1.8 billion this year. Spurred by central bank easing, the metal has gained about 16% in 2019 and is poised for its best year since 2010.