LOS ANGELES, November 3, 2017 /PRNewswire/ — Gold prices are up 12 percent this year, with futures markets trading around $1,300 an ounce on the New York Mercantile Exchange. Of course the price has softened slightly as summer ended.
However, prospects usually brighten in the fourth quarter.
Another rally in gold will certainly play to the gold miners including Barrick Gold Corporation (NYSE: ABX) (TSE: ABX), Randgold Resources (NASDAQ: GOLD), Corvus Gold (OTC: CORVF) (TSX: KOR), and Bullfrog Gold Corp. (OTC: BFGC).
According to the Commodity Trader’s Almanac, gold prices tend to fall in late summer and then rise toward the end of the year as jewelers and consumers get ready for the holiday shopping season.
This gives gold watchers reason to pause and reload for the seasonal price swings.
Major mining companies stand to benefit from strong gold economics including Barrick Gold Corporation (NYSE: ABX) (TSE: ABX), Randgold Resources (NASDAQ: GOLD), and Corvus Gold (OTC: CORVF) (TSX: KOR), who have had significant gains this year.
At the same time junior mining companies including Bullfrog Gold Corp. (OTC: BFGC), are on track to advance from a rising gold market. Bullfrog Gold is developing a former Barrick operation in Nevada where positive news is emerging of a possible Carlin Trend…