The gold market has finally stabilized and the yellow metal looks ready for a comeback to finish the year on a strong note, according to one long-standing gold bull.
“I continue to expect a strong finish to the year,” Metal Bulletin precious metals analyst Boris Mikanikrezai wrote in a Seeking Alpha post on Tuesday. “Gold has stabilized somewhat since the start of September, which is primarily driven by the renewed weakness in the dollar.”
One solid sign that gold is ready for a turnaround is the market’s extremely negative positioning, which potentially limits any additional selling when the U.S. interest rates go up, Mikanikrezai explained.
Panthera Resources Plc (LON:PAT) was incorporated in the UK and Wales in 2017. The company is focused on its gold exploration and development projects in India and West Africa and the optimisation of other mineral projects.