Gold Recovers after September Sell-off
Following the massive sell-off of gold in September, the price of the yellow metal has stabilized is headed for recovery after dropping from the record high of $1923.70 on September 6.
Following the massive sell-off of gold in September, the price of the yellow metal has stabilized is headed for recovery after dropping from the record high of $1923.70 on September 6.
Once the gold reserve at a mine has been exhausted, the owner of the mine must rehabilitate the site. Rehabilitation refers to the process of returning mined land to its preexisting condition or a predetermined post-mining use.
Gold prices inched higher on Friday, heading for their second weekly advance as a stalling greenback and uncertainty in the Eurozone coaxed investors back into the safe haven investment.
Gold has consistently set price records this year, as investors flocked to gold as a shelter from the increasingly unstable global economic picture; however, this week gold performed differently from what we have come to expect. Instead of rallying, the safe haven investment plunged in unison with equities.
Once an exploration company has obtained all of the necessary permits and approvals to develop a mine, the construction phase kicks off.
The price of gold could increase above a range of $2000 per troy ounce even by the end of the year. Some analysts and observers believe fluctuations in gold prices could drive the gold market in coming weeks as traders struggle to find general consensus and global policymakers consider increasingly desperate measures to stabilize wide spread economic concern.
Northern Freegold is controlled and operated by a technical group of Yukon locals who know the land and the communities they are working in. NFR’s Nucleus deposit contains an inferred resource of million ounces of gold at 0.87 g/t. In June 2010 NFR started a 10,000m drill program aimed at increasing the size of this deposit.
Whether or not gold prices will continue their upward trajectory is the “million dollar question” being assessed by the investment community.
Regardless of how valuable of a resource an exploration company discovers, the resource will never be brought to market unless the company can properly assess, and present, the total environmental and socio-economic impacts of going from buried resource- to mine, to reclaimed land.
After a record breaking price run in 2010, gold was one of the most watched commodities coming into 2011. Analysts were keen to make predictions as to whether the metal would continue its rally, or if prices would see a steep correction.
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