Given that this recent correction is a reflection of gold prices surging $130, a very respectable rally, the price recovery over the last couple of trading days is clearly an indication of the resilience of current gold pricing and demand for the precious yellow metal.
This rally began in the middle of November last year when gold was priced at $1,200, up until January 31 when gold prices hit an apex at $1,330. This week’s price recovery is clearly an indication that the correction which began at the end of January could be quickly coming to a conclusion.
Goldplat plc (LON:GDP) is an AIM-listed, profitable gold recovery services company with two market leading operations in South Africa and Ghana. The Company also has a small gold mining and exploration portfolio in Kenya, Ghana and Burkina Faso.