- Gold is trading near US$1,800 oz, and more upside movement is likely on the cards.
- Weaker dollar and rising inflation are also considered to be powering the recent bull run of the yellow metal.
- Citigold Corporation operates the Charters Towers Gold Project in northern Queensland with an estimated resource of 14 Moz.
- Charters Towers is Australia’s highest-grade goldfield and has produced nearly 6.6Moz in the past.
Gold is in the news lately for all the right reasons. The precious metal edged up 8% during May, which is the highest monthly gain since July 2020. The macroeconomic factors, including weaker dollar and rising inflation, are fueling the current price uptrend of the yellow metal. Analysts are bullish on the prices of gold and are forecasting it to breach the all-time high of US$2074.88/ounce.