Reuters predicted, based on last week’s economic data, that the economy is likely to run into a slowdown, which, based on previous trends, may once again drive investors toward gold as a safe haven investment.
The price of gold is currently stable at around $2,000, and has recovered from a drop in price that occurred last Friday. An expert from Kitco, Jim Wyckoff, has stated that this drop was just a normal correction in a strong upward trend for gold and silver. This trend coincides with the ongoing economic uncertainty in the United States. Last week, gold was gradually increasing in price, nearing its record price of $2,075.47 that was reached in August 2020 during the economic uncertainty caused by the COVID-19 pandemic.
Kalo Gold (KALO.v) owns the Vatu Aurum Gold Project, which spans 367 square kilometers and contains at least seven volcanic arc related calderas. This geological setting is similar to the Vatukoula and Tuvatu Gold Deposits, which have produced over 7 million ounces of gold combined. The project is located within a 300 km extensional fault zone containing Eocene age calderas, two of which host the Vatukoula and Tuvatu Gold Deposits. Exploration has identified extensive hydrothermal alteration and large gold anomalies. Fifteen prospects, including two known gold deposits, have been identified. KALO.v plans to use remote spectral geology and structural studies to define and prioritize potential gold targets, followed by drilling to find a profitable deposit. They will continue their systematic exploration approach.
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