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Golconda Gold Ltd GG


Primary Symbol: V.GG Alternate Symbol(s):  GGGOF

Metals & Mining Gold
Golconda Gold Ltd. is a Canada-based un-hedged gold producer and explorer with mining operations and exploration tenements in South Africa and New Mexico. The Company operates through its wholly owned subsidiary, Galane Gold Mines Ltd., two assets: a producing gold mine which also has the rights to certain mineral exploration tenements (the mine and mineral exploration tenements collectively, the Galaxy Property) located in the Republic of South Africa (South Africa) through subsidiaries located in South Africa, and a gold and silver mine and processing infrastructure located in the United States of America (the Summit Property) that is in care and maintenance. The Galaxy gold is situated approximately eight kilometers (km) west of the town of Barberton and 45 km west of the provincial capital of Nelspruit in the Mpumalanga Province of South Africa. The property covers approximately 58.6 square kilometers (km2) is part of the prolific Barberton Greenstone Belt.


TSXV:GG - Post by User

Golconda Gold Ltd
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Post by Invest4Life2016on Nov 30, 2016 11:51pm
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Post# 25538206

Gold Submitting to a Rising U.S. Dollar!!

Gold Submitting to a Rising U.S. Dollar!!The strength of the U.S dollar is pushing gold down below $1000. The last significant bull market in gold was extinguished by a rising U.S. Dollar which reached a high of 1.67 in Feb 1985. The dollar bubble that happens approx every 15 years is brewing to bring down gold in a big way this time. The only difference being gold capitulated 2 years after it's spike from $860 in 1980 and was kept pinned down because the U.S. Dollar was rising right after gold's spike. This time around the U.S. Dollar's bullishness took a couple of years to form after gold spiked to $1900. This has prevented capitulation till now but as the U.S. Dollar hurdles past 1.10 any support for the gold price to stay above $1000 will have disappeared. Gold had it's mania phase! Now it's the U.S. Dollar that will go through a "mania phase" that puts gold into capitulation and keeps it in a blow off phase till 2019. The smart money is leaving to feast on the bag holders once gold breaks below it's mean.

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