The gold price in autumn
The gold price in autumn
Looking at statistics, the gold price performed rather average in September.
Since 1970, September is statistically sixth among the best gold months. In 2012, September brought a high gold price, the cause was the euro crisis. By 2013, the price of the precious metal slid downwards. In the last eight years, the price of gold traded rather weak in September. Certainly still in the memory is the September 2008, keyword Lehman bankruptcy. A single day brought the gold price up by 100 US dollars, then it went down before the gold price broke out to the upside. So, there were extreme values in September in some years.
Today, the future seems to look good for gold prices, with factors such as inflation, money printing continuing and China's drive for a digital yuan potentially weakening the US dollar and thus strengthening gold. Central banks have returned to buying mode this year after a low last year. And a further rebound on the part of central bank buying is expected. Low interest rates are also a theme supporting gold prices.
In terms of gold supply, most gold in 2020 came from China, Australia, Russia, Canada and the US. Gold production has been stagnant for years as major mining companies have been reluctant to invest in exploration. So, the gold price should be well supported and very good for medium and long-term investors. And higher investment demand is also good for gold companies. So, in any investor profile, gold and gold mining stocks should be there.
An investment in Fiore Gold or CanaGold would be possible. Fiore Gold owns the Pan Mine in Nevada, which is producing successfully. It also has a second gold project and now a third (Illipah), which contains about 1,600 acres of land with a previously producing gold mine.
CanaGold has just delivered very good drill results again from its New Polaris gold project in British Columbia. Up to 30 grams of gold per ton of rock could be detected.
Latest corporate information and press releases from Fiore Gold (www.resource-capital.ch/en/companies/fiore-gold-ltd/).
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