Gold News

Sino Gold reveals bullish Gold Price outlook

Sino Gold has today (August 26th) provided a boost for anyone who currently holds a Gold Investment.

Trading in the Australian company, which operates China's second-biggest gold mine, was suspended amid talk that Canadian firm Eldorado Gold is mounting a takeover bid.

Although Sino Gold would not confirm or deny the reports, a statement from the company indicated that it believes the yellow metal will continue to perform strongly.

"The Gold Price outlook remains strong and Sino Gold's shareholders will fully benefit from an increasing gold price as the company is completely unhedged," it said, according to AAP.

A similarly positive assessment was provided last week by Jeffrey Nichols, managing director of prominent gold analysis firm American Precious Metals Advisors.

He predicted that gold will retest its record level of $1,030 by the end of the year on increased jewellery demand and, significantly, should be capable of remaining in four figures.

"Maybe it won't quite hold, but when it comes back down it will settle at a still-higher low point than we've seen in the last couple of ups and downs," he said on SAfm Market Update, according to MiningMX.

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