"Curse Month" October
This year, stock markets are not only influenced by the elections in the USA, but also by the corona pandemic. Although some experts believe that the corona disease of the US president could lead voters to believe that he cannot effectively deal with the virus.
Brexit is also moving back into the spotlight, so it is another uncertainty. For although the transition period ends at the end of December, no trade agreement has yet been concluded with the EU. The EU even initiated legal action against the British plans.
These conditions may give the gold price a further boost, especially when the time comes closer to the US elections. For example, gold rose for the eighth time in a row at the end of September. By comparison, the price of the precious metal rose for twelve consecutive quarters between 2008 and 2011. This time, however, gold's price went down in September alone. However, September is usually a strong gold month, mainly because there is strong demand in India for seasonal reasons.
Currently, the gold price drivers are uncertainties, negative real interest rates and unprecedented money printing. That the central banks have bought less gold in the current year should change again in 2021, according to analysts from Citigroup, for example.
Aurania Resources, for example, is one of the companies benefiting from higher precious metal prices.
Aurania Resources' the Lost Cities-Cutucu project is located in the Andes in southeastern Ecuador and contains silver, gold and copper. The name of the project comes from the history of the two lost or forgotten former Spanish gold mines in Ecuador. CEO Keith Barron became famous with the discovery of the ten million-ounce Fruta del Norte gold project in Ecuador.
Skeena Resources is also focused on gold and silver, with earlier producing mines at Eskay Creek and Snip. Located in the Golden Triangle in northwestern British Columbia, encouraging drill results are already available.
Recent corporate news and press releases from Aurania Resources (https://www.resource-capital.ch/en/companies/aurania-resources-ltd/) and Skeena Resources (https://www.resource-capital.ch/en/companies/skeena-resources-ltd/).
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