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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 Aug 31, 2020 11:23am
109 Views
Post# 31479318

Gold Edges Down Despite Weak Dollar

Gold Edges Down Despite Weak Dollar

COMMODITIES: Gold Edges Down Despite Weak Dollar as Hopes for New Record Price Fade

09:14 AM EDT, 08/31/2020 (MT Newswires) -- Gold traded lower early on Monday despite a drop in the U.S. dollar to 27-month lows.

Gold for December delivery was last seen down US$4.40 to US$1,970.50 per ounce in Comex electronic trade.

The drop came even as the U.S. dollar weakened to 27-month lows after the Federal Reserve last week committed to a prolonged period of low interest rates even if inflation rises above its 2% target when the economy recovers from Covid-19.

The ICE dollar index was last seen down 0.14 to 92.23 points after earlier touching 92.15.

The price of the metal has stagnated in recent weeks after touching a record high earlier this month, showing that a push to a new record is unlikely to be set in the near term.

"The gold price upswing now appears to be running out of steam," Commerzbank analyst Carsten Fritsch said in a note." .. A further attempt to regain or indeed rise above the $2,000 mark is likely to be no easy undertaking, as there is insufficient investor interest at present."

(Well investor interest can change when reality sets in)
 


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