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Eldorado Gold Corp T.ELD

Alternate Symbol(s):  EGO

Eldorado Gold Corporation is a gold and base metals mining, development, and exploration company. It has mining operations, ongoing development projects and exploration in Turkiye, Canada, and Greece. It operates four mines: Kisladag and Efemcukuru located in western Turkiye, the Lamaque Complex in Quebec, Canada, and Olympias, located in northern Greece. Kisladag, Efemcukuru and Lamaque are gold mines, while Olympias is a polymetallic operation producing three concentrates bearing gold, lead-silver and zinc. The Lamaque Complex is located in Val-d’Or, Quebec. It includes the Triangle Mine (Upper and Lower), the Ormaque Deposit, the Parallel Deposit, the Plug #4 Deposit, and the Sigma Mill. Efemcukuru is an underground operation located in Izmir Province in western Turkiye. Its other development project in its portfolio includes Perama Hill, a gold-silver project in Greece. Its Stratoni is an underground, silver-lead-zinc mine located in the Halkidiki Peninsula in northern Greece.


TSX:ELD - Post by User

Bullboard Posts
Post by CatamaranFundon May 25, 2020 2:47am
169 Views
Post# 31067717

Gold price is stuck below $1,800, when can it break out?

Gold price is stuck below $1,800, when can it break out?Very timely article explaining what ifs due to growing uncertainty with China, Hong Kong, US dollar relationship with Gold in both short and long term;
“Gold is acting very well. We are seeing it come off from a bottom alongside a stronger dollar. Gold tested $1,722, which is a 20-day moving average. That is encouraging going into the long weekend,” LaSalle Futures Group senior market strategist Charlie Nedoss told Kitco News on Friday. “It is big that gold can make gains with the stronger dollar here.”
 
Gold and the fear trade
 
In the short-term, increased geopolitical tensions could actually hinder gold’s move up because they boost the U.S. dollar, TD Securities head of global strategy Bart Melek pointed out.
 
“Whenever those tensions rise up, you have the Chinese RMB weaken and the U.S. dollar firm up. The danger for gold is that we could get a shoot up in volatility, which generally doesn’t include anything else but dollars. When the U.S. dollar firms up, gold doesn’t do too well. In the short-run, these tensions will likely get people more into the safety of U.S. dollar and gold could suffer,” Melek explained. "Longer-term, it is a different story.”
ReferenceLink: https://www.kitco.com/news/2020-05-22/More-tailwinds-ahead-for-gold-price-Is-the-U-S-China-trade-war-back-on-the-table.html

Cheers to the patient investors
Bullboard Posts