Year-end spurt on the gold market
Various industry insiders have already expressed their opinions on the gold price at the end of the year. For example, Chris Vermeulen, market strategist of Technical Traders, sees the gold price at the end of 2020 at $2,300 an ounce. He believes that gold stocks have even more potential. In his opinion, the best-known ETF, the VanEck Vectors Junior Gold Miners ETF, still has around 60 percent room to rise in the coming months.
The reason for this is the US dollar, which is in a downward trend. Gold shares seem to be valued too favorably. Not much is moving here yet. But if the market suddenly jumps to gold shares, then those who are already invested should be happy. Because for the many gold companies, the third quarter should be particularly good.
This year is a special, unprecedented year. After a phenomenal decline, the stock markets began to recover in a way that had never been seen before. And from a historical perspective, the fourth quarter is usually a good one. For example, if you look at the last 32 years, there were only four negative price developments. Especially those investors or fund managers who were not yet so involved in the rally that took place could reflect and invest at the end of the year. This in turn would strengthen the gold price and above all the share values of gold companies.
Even though there is no guarantee for this, investing in solid gold companies should always be a good idea. Here, one could think of Fiore Gold or Mawson Gold.
Fiore Gold owns the Pan Mine in Nevada, which is already producing, and nearby the Gold Rock property (feasibility study in progress) and the Golden Eagle project (in Ferry County, Washington).
Mawson Gold is exploring the Rajapalot gold-cobalt project in Finland and the Mount Isa area in Australia. New additions are gold areas in the Victorian Goldfields of Australia.
Current company information and press releases from Fiore Gold (https://www.resource-capital.ch/en/companies/fiore-gold-ltd/) and Mawson Gold (https://www.resource-capital.ch/en/companies/mawson-gold-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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