Gold bars are stacked in the safe deposit boxes room of the Pro Aurum gold house in Munich March 3, 2014.Reuters
Globe editors have posted this research report with permission of Beacon Securities Ltd. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:
After closing 2014 at $1,186/oz (U.S.), gold recently breached $1,250/oz for the first time since June 2014 (excluding 1 day last October). Gold has been trading within a channel $1,200-$1,400/oz for most of the past 20 months (since May 2013), and our call is for a recovery to higher levels within the range. Our 2015 average price forecast for gold is $1,300/oz.
Having Canadian dollar costs and U.S. dollar revenues, Canadian mines are well positioned to capture margin improvements with improving gold prices. We recommend investors consider: Detour Gold Corp. (DGC-T), Agnico-Eagle Mines (AEM-T) and Lake Shore Gold (LSG-T).
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