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Gold Market Instability: More to come?

Watching recent gold activities has been a lot like a rollercoaster lately; it’s had huge ups and downs. We’ve seen gold climb to $2735.05 CAD, up $132.53 in just over a week, only to see a huge correction where gold dropped to $2568.75 CAD in the following few days. And with upcoming events, it looks like there’s more instability to come.

There’s lots to look out for in the coming weeks that will affect gold prices – comments by the Fed Chair on Thursday in regards to the central bank’s policies, the assessment of the equity market, and the U.S elections in November. All these events will see gold prices fluctuating as it comes out.

Another good data point to watch for volatility is the unemployment rate. The worse the unemployment, the more like it is that the governments will pump more money into the economy to boost it, which would have a positive effect on gold. And with these numbers set to release next week, you can bet that it will have an impact on gold prices.

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Gold’s Reign At An End?

After a major correction in the gold market on Tuesday, gold prices dropped by $171.63 (CAD); the most in 7 years! But why did this happen? And will gold recover or continue to drop?

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Gold Analysis – An Opportune Crisis?

The recent Covid-19 pandemic has taken the whole world by surprise and the financial markets are beginning to feel the effects. After closing at a record high of $29,551.42 on February 12th, it opened March 30th at $21,678.22, dropping a staggering 26.6% in just over a little more than a month.

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Mining companies to try and meet rising demand for gold

A phased restart of mining operations is set to begin on July 17th, according to the Ontario-based gold mining company, Harte Gold. After acquiring the funds they needed due to liquidity and Covid-19 related issues, they expect to recall their entire workforce and be fully operational by the end of the month.

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