According to analysts from TD Securities, after a period of stagnation during which gold prices may hover in the lower bound of the recent trading range near $1,700/oz, the yellow metal should see a resurgence in investor interest and move back on a path toward $2,000 and above.
“Spot gold has more than rebounded from the mid-March COVID-19 driven collapse and is now trading in a range near $1,700/oz. The yellow metal rallied along with risk assets following the reduction of extreme volatility, after the US Federal Reserve and other central banks announced measures to provide potentially unlimited support to credit markets and governments around the world provided countless trillions in fiscal support to keep consumers and corporations solvent. However, before prices move into a significantly higher range, a drift lower is a significant risk.”
Anglo Pacific Group plc (LON:APF) has a 2.5% life of mine NSR royalty on the El Valle-Boinàs/Carlés gold, copper and silver mine owned by TSX-listed Orvana Minerals Corp.