Historical observation that major gold miners like Homestake and Dome Mines rose sharply and raised dividends during the Great Depression.
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The major producers of the era saw dramatic gains during the worst years of the economic collapse (1929–1933):
* **Homestake Mining (USA):** The largest U.S. gold producer saw its stock price rise **474%** from 1929 to January 1933. By early 1936, shares were up **580%** from the 1929 market top.
* **Dome Mines (Canada):** The largest Canadian producer's shares rose **558%** during the same 1929–1933 period.
* **Dividends:** Unlike most companies that cut or eliminated payouts, major gold miners substantially increased dividends. Homestake's dividend rose from $7 to $15 per share, and Dome Mines' climbed from $1 to $1.80.