Gold junior shines following drill results
The Ubika Gold 20 (UG20) index performed in line with both the TSX Gold index well as the price of gold since July 18, 2016. Gold Standard Ventures Corp. (CVE:GSV) was the top-performing component company during the past month, soaring 75% after announcing drill results that included a 126.2 meter section grading 3.95 grams per tonne gold.
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Gold prices seem to have leveled off, at least in the short-term. Volatility has become relatively scarce and although yields have indeed fallen, investors are cautious to believe they can possibly fall any further. Without such tailwinds, we believe the fundamentals for gold are somewhat muted. In the medium term, we see an interest rate increase by the Fed, signalling the beginning of a probable series of consecutive hikes. This will, in effect, reduce investors’ incentives to hold gold. All told, we continue to closely monitor the commodity and its drivers closely during this seasonally-weak period.
Gold Standard Ventures Corp.
The company is focused on acquiring and exploring gold-bearing mineral resource properties in Nevada. The stock has skyrocketed 75% since we last covered them on July 18, 2016.
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