Gold Holds Strong | $CRVC.c Drill Results Coming Soon Gold prices have dropped from their overnight highs but continue to hold support above $1,850 an ounce; Commodity analysts note that the market generally lacks conviction in any direction as U.S. markets were closed for the Memorial Day long weekend.
Spot gold prices are trading in neutral territory, last traded at around $1,853 an ounce.
Analysts note that the precious metal is trading in the middle of its broader long-term range. Although gold prices continue to benefit from a weaker U.S. dollar, rising risk sentiment, helping to boost equity markets, is taking some shine off the yellow metal's safe-haven allure.
However, some analysts have said that the jump in the S&P 500 last week was a classic bear market. Analysts have said that rising fears of an impending recession will continue to weigh on equity markets.
All of this to say, gold will continue to perform as a strong hedge against the coming market storm.
$CRVC.c is one Canadian gold play hot on my radar right now. The company is expecting assay results from the inaugural drill campaign at its wholly-owned McVicar project very soon. Initial sampling of the targets delivered some highly impressive drilling and surface sampling results of up to 29.86 g/t and 19.75 g/t respectively.
$CRVC.c is currently at an all-time low ahead of the expected assay results, trading at $.06. The company is presently valued at CAD $3.33 million.
https://ceo.ca/@newsfile/cross-river-announces-completion-of-inaugural-drill