Merry month of May - golden month of May
Over the past twelve months, the price of this precious metal has risen enormously. Calculated in euros, it is now 37 percent higher than a year ago. In April 2020 the price rose by almost seven percent or 100 euros. The best gold month on average is January, followed by May as the second-best month.
This time May could show once again what it can do in terms of gold. The gold price rose particularly strongly in May in 2010, when Greece was threatened with bankruptcy. At that time May was able to bring out 10 per cent profit for the gold price. This time the crisis affects more or less the whole world. The production of the gold mines has probably fallen in recent weeks due to Covid-19. Although a significant drop in demand from China and India is expected. But gold ETF/ETC demand is extremely robust and has a balancing effect.
Many factors are likely to continue to drive up the price of gold. For example, news such as the US labour market report, which is coming soon and will come up with extremely bad figures. A high unemployment rate is fuelling fears of an economic disaster and - continues to drive the gold price (safe haven).
Gold and gold shares belong in every portfolio. And one can still use mostly favourable entry prices. OceanaGold or Maple Gold Mines, for example, are among the gold companies that should be carefully selected.
OceanaGold is a strong company that produces gold, silver and copper: https://www.commodity-tv.com/play/oceanagold-adressing-latest-issues-strong-production-growth-in-the-future/. This year, the Haile (USA), Waihi (New Zealand) and Macraes (New Zealand) mines are expected to produce an estimated 360,000 to 380,000 ounces of gold. In the Philippines, OceanaGold still owns the Didipio gold and copper mine and has been producing there since 2013, with the Didipio property expected to last until 2032.
Maple Gold Mines owns 100 percent of the large Douay gold project in the Abitibi greenstone belt of northern Quebec: https://www.commodity-tv.com/play/newsflash-with-condor-gold-caledonia-mining-and-maple-gold-mines/. The indicated gold resource is 422,000 ounces gold at 1.52 grams gold per tonne rock and is open in several directions.
Recent corporate information and press releases from OceanaGold (https://www.resource-capital.ch/en/companies/oceanagold-corp/) and Maple Gold Mines (https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd/).
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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