Gold edged higher on Thursday, supported by an improved technical outlook after scaling key milestones as the market continued to hold out against a stronger dollar.
Spot gold was up 0.2 percent at $1,224.38 an ounce by 11.38am GMT. US gold futures were flat at $1,227.40.
“Overall, we have been technically breaking above the previous highs, so it will be difficult for gold prices to move below that,” said ABN AMRO analyst Georgette Boele. “I think the overall picture has improved.”
Altus Strategies is a London (LON: ALS) and Toronto (TSX-V: ALTS) listed, diversified and Africa focused mineral exploration project generator. Through our subsidiaries we discover new projects and attract third party capital to fund their growth, development and ultimately exit optionality. This strategy enables Altus to remain focused on the acquisition of new opportunities to be fed into the project generation cycle and aims to minimise shareholder dilution. Our business model is designed to create a growing portfolio of well managed and high growth potential projects and royalties, diversified by commodity and by country. Altus currently has eighteen projects in six commodities across six countries. We aim to position our shareholders at the vanguard of value creation, but with significantly reduced risks traditionally associated with investments in the mineral exploration sector.