Kingman Minerals Ltd. (TSX.V: KGS) Poised to Benefit as Goldman Sachs Raises Gold Price Estimates to $2,300/oz
Sep 4, 2020
- Goldman Sachs has recently raised its 12-month forecast for gold to $2,300/oz, rising from its previous estimate of $2,000/oz
- Gold prices touched historical high in August 2020, rising to $2,075/oz on back of dollar depreciation, growing economic uncertainty
- Kingman Minerals is currently working to develop its mining interest in Arizona, USA as well as Quebec, Canada
- A previous non-NI 43 101 compliant study of Kingman Mineral’s Arizona site carried out in 1985 found potential reserves of up to 664,000 ounces of gold, 2.6 million ounces of silver
Kingman Minerals (TSX.V: KGS), a Canadian-listed gold miner with extensive claims in key mining jurisdictions spanning the North American continent, finds itself in the middle of one of the most intriguing precious metal bull markets of all time with gold prices touching a record high in early August 2020 – rising to an intraday level of $2,075.47/oz. Investors have fueled a furious rally in the metal this year, as asset managers have sought relative safe havens in which to park their money with concerns rising about a resurgence in the coronavirus and the impact that it could have on the global economy.
Gold prices have been on a remarkable run in 2020, rising by $560/oz to $2,075/oz prior to peaking in early August. Global central banks have carried out over 150 interest rate cuts thus far in 2020, reducing their rates by a…
NOTE TO INVESTORS: The latest news and updates relating to KGS are available in the company’s newsroom at http://ibn.fm/KGS
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