RE:50 CDN digits Agreed, the gold price is going higher! Eventually it will, though it may stage another brief pull back.
The overall market seems to be rallying well, again. I am not quite sure why, but it is- what it is. Perhaps some positive signals are indicating that the social distancing will soon begin to be more relaxed. And some companies do seem to remain quite profitable. Even the oil market is trying to rally. But is this, just another bouncing ball?
I do hope that the shorter term gold trend, does remains stable, instead of falling. That would be a more auspicious omen, for nearer term trading, in all the gold markets.
But like many have stated, when the fallout from the monetary easing has finally become evident to all, the gold price will move determinedly higher, once again. The duration and pace of the action is what remains, still somewhat uncertain.
Gold's price has always been a function of the money supply. That very precious metal has steadily risen in value over time. The value of the paper money needed to purchase it, has dramatically declined.
And when demand outstrips supply, the price of a rare commodity must rise.
One might say the same about bitcoin. But I am skeptical about inventive strategies like that. Each to his own. Personally, I would rather buy shares of a gold miner than the product of a miner of virtual coin. To me, invisible money, seems to have little more substance than the fiat kind, that it so desperately, seeks to replace.
Many have paid more for Abcourt shares than their present day trading value. The last rally to a nine cent high did take its toll, on many an investor's enthusiasm. Many sold at lower prices as profits fell, once again. Skepticism returned.
The financial numbers were undeniably bad, as the grades continued to decline. Yet with the strong recent uptick in the Gold price, it is evident to all, that the potential for stronger profitability is really quite good!
But the proof is in the pudding. The next quarterly reports will provide the real answers. Have the the present day sellers or the buyers made the best decision? That remains to be seen. It will be reflected in the the share price in the next short months and years, still ahead.
Buy, sell or hold! But try to stay healthy, while we wait. The answer will come.
All the best! Java