Towards the end of the year do not forget gold
Looking at the development of the gold price in recent years, it is noticeable that between August 7 and February 1 of the following year the price rose in 23 out of 33 cases. The average profit in the years in which the price rose was just under 8.9 percent. In the years in which prices fell, the average loss was around 5.2 per cent.
All in all, the price of gold has risen more often than it has fallen over the past 33 years and gold prices have risen more than fallen. The main reasons for the seasonal nature of gold are the various festivities at which gold is increasingly bought. After all, the majority of the annual production of the coveted precious metal goes into jewellery production.
The festivities include Christmas, the Indian wedding season in autumn and the Chinese New Year in February. The jewellery dealers are preparing for these festivities by buying gold. In 2017, the price of gold rose by ten percent. On the first of January 2018, an ounce of gold cost 1,302.80 US dollars, today around 1,220 US dollars. Even if 2018 may not be one of the years with a rising gold price at the end of the year, it should then go up again in the new year. If you are interested in gold companies, you should consider Treasury Metals or Nordic Gold.
Treasury Metals - https://www.commodity-tv.net/c/search_adv/?v=298478 - is developing one of Canada's next producing gold mines, the Goliath Gold Project in northwestern Ontario. In the beginning the mine can be mined by open pit mining. An updated mineral resource estimate indicates 1,229,800 ounces gold equivalent.
Nordic Gold - https://www.commodity-tv.net/c/search_adv/?v=298622 - is also well on its way to bringing its Laiva gold mine in Finland into production. The financing of further work has been secured and the mine has already been fully constructed and approved. The first gold casting is due to take place at the end of November.
Current corporate information and press releases from Nordic Gold (https://www.resource-capital.ch/en/companies/nordic-gold-corp.html) and Treasury Metals (https://www.resource-capital.ch/en/companies/treasury-metals-inc.html).
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