Gold - a central theme at PDAC
The PDAC, the Prospectors & Developers Association of Canada, has been held online this year. Gold was in focus.
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PDAC, the premier mining trade show, was held March 8-11. Normally based in Toronto, this year it was all online. For the gold price, and this was probably the most important insight of the industry experts, the future is still promising. After the price of the precious metal had risen in January (to 1,950 U.S. dollars per troy ounce), the price went down, sometimes even below 1,700 U.S. dollars per ounce.
The well-known Rick Rule, for example, expressed the following opinion on the virtual PDAC: "Gold is in a "cyclical decline of a secular bull market, cyclical declines in bull markets are not uncommon - in fact, they can be frequent and quite deep ". Thus, he reiterated his opinion from late 2020. Volatility, Rule said, is part of the gold sector and those who can't stand it may be better off leaving the sector.
From a chart perspective, the gold price has formed some sell signals since the beginning of the year. However, as long as the price of the precious metal is above 1,700 U.S. dollars, a recovery can continue. And if the price breaks out above 1,775 U.S. dollars, a larger recovery rally can start, according to the chart technicians. Currently, a bottom formation is assumed.
So, it's time to think about gold investments in gold companies, such as producer OceanaGold or Trillium Gold Mines.
Trillium Gold Mines - https://www.youtube.com/watch?v=3qbOekOX9Ng - takes care of properties in Ontario in the Red Lake Mining District. Through acquisitions, the company has added additional properties in Quebec and Ontario to its portfolio.
OceanaGold - https://www.youtube.com/watch?v=Qd3clzdnrRo - owns gold and silver projects in the U.S. and the Philippines. Nearly 100,000 ounces of gold were produced in the fourth quarter.
Current corporate information and press releases from Trillium Gold Mines (https://www.resource-capital.ch/en/companies/trillium-gold-mines-inc/) and OceanaGold (https://www.resource-capital.ch/en/companies/oceanagold-corp/).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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