The gold price is back at it again. The gold future for the June contract (currently the most traded contract) reached its highest level in eight years on Friday at over $ 1,750. And the spot price seems to want to follow suit: the spot is currently approaching the $ 1,700 mark again. A multi-year high is within reach here too. But the actually bullish signal comes from the gold mines.
Number one gold producer
Newmont Goldcorp, the number one gold producer on the planet, delivered the strongest buy signal since 2012. And Barrick Gold was finally able to take the high of 2016 out of the market in Canadian dollars. There is much to suggest that prices will continue to rise in the coming weeks and months. In the second and third rows, double-digit percentage price gains were also on the course list on Friday and the long-neglected exploration sector is finally getting attention again. At just the right time, a new stock wants to make its debut in Toronto on Tuesday. A share in which the two best-known mine investors, Eric Sprott and Ross Beaty, have been invested together for the first time. With Eric Sprott, this is not surprising in this case, after all, he knows the project exactly. He has probably never made so much money in his life as with the mine that is right next door. Here he obviously denies the chance to repeat the success.