Gold price rises and rises - in US dollars to its highest level in over seven years
October 1987 brought about a huge stock market crash, the famous Black Monday. In 1990, the price of the precious metal was around 422 US dollars per troy ounce; it had gone up with the beginning of the Iraq crisis. In 1999 it fell to a low of $ 255 an ounce. And after the 2008/2009 financial crisis, a gold rally started. Risks such as a possible collapse of the global economic system or a possible collapse of the euro zone are pushing up the price of gold.
Between 1990 and 1999, the Canadian junior exploration industry in particular flourished. Advances in mining geology and technology and relatively low exploration costs led to the development of many new areas and major mineral discoveries. Especially when one of the richest gold deposits in the world was discovered in Eskay Creek, British Columbia, investment in shares of gold companies was in great demand. But then the commodity bull market came to a standstill.
A quote from the British fund manager Sir John Templeton was correct: Bull markets are born in pessimism, grow out of skepticism, mature through optimism and die of euphoria. From 2009 to 2018, rising costs caused the explorers some trouble, and as a result, investors also turned away from gold.
The gold industry is subject to certain cyclical and seasonal rules. But in special situations, such as the one we are now facing due to the Covis 19 pandemic, states accumulate immense debt, gold shines more than ever and investing in gold stocks is a good idea.
For example, in Maple Gold Mines: https://www.commodity-tv.com/play/newsflash-with-goldmining-and-maple-gold-mines/. The Company owns a highly prospective 355 square kilometre property in Quebec with its Douay gold project.
Ximen Mining - https://www.commodity-tv.com/play/ximen-mining-waiting-for-permit-to-start-gold-production-at-the-newly-acquired-kenville-mine/ - is also well positioned with its projects in British Columbia. In the Nelson region, Ximen Mining owns approximately 14,240 hectares of land following acquisitions.
Recent company information and press releases from Maple Gold Mines (https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd/).
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