Gold Price is Affected by Interest Rates

NEW YORK, October 23, 2017 /PRNewswire/ --

The price of spot gold has gained about 11.68 percent this year. Global geopolitical uncertainties are the major driver of the yellow metal, which is considered as a safe haven asset in the time of political uncertainty. In addition, the selection of the next Federal Reserve Chair may also impact gold prices. Janet Yellen's term as the chair of the FOMC will expire in February 2018. Gold is highly sensitive to the changes in U.S. interest rates, as a higher rate will increase the opportunity cost of holding non-yielding bullion. Investors are closely watching who will be appointed to the next Fed chair and the decision could be finalized by November 3. Lucky Minerals, Inc. (OTC: LKMNF), Eldorado Gold Corporation (NYSE: EGO), Yamana Gold Inc. (NYSE: AUY), New Gold Inc. (NYSE: NGD), B2Gold Corp. (NYSE: BTG)

According to Kitco News, Mike McGlone, commodities strategist for Bloomberg Intelligence, gives his 2018 gold outlook in a report Thursday: "Unless the dollar trend shifts to strength in 2018, the focus for gold's next rally leg should be the stock market's potential for mean reversion... If the dollar has peaked and stock-market volatility normalizes a bit in 2018, then the $1,400-an-ounce handle should come into play for gold... Trading at half the price-to-value of the S&P 500, gold has good support... Investors reluctant to sell strong-momentum stocks are buying more gold to diversify. Based on ETF holdings, the implication is that stocks, whether higher or lower, may favor gold prices. Greater stock-market volatility usually supports gold's attribute as the primary liquid alternative asset."

Lucky Minerals, Inc. (OTCQB: LKMNF) also listed on the TSX Venture Exchange under the ticker symbol "LJ". Just this morning announced breaking news that, "the appointment of Mr. Francois Perron who has agreed to join its board of directors in replacement of Sonny Janda. Mr. Janda is stepping down due to time constraints associated with his other business mandates. On behalf of the board, we would like to thank Mr. Janda for his years of dedication and support.

Mr. Perron is Director and Vice-President corporate development at Goldstar Minerals Inc. Prior to that he was Vice-President at Renmark Financial Communications up to April 2017. He was the President and Chief Executive Officer of QMX Gold Corporation and was previously the President and Chief Executive Officer of Golden Goose Resources. Prior to joining the resource sector, Mr. Perron was involved in the financial markets as a portfolio manager. He managed resource focused portfolios for NBC Alternative Investments and various resource funds for the Caisse de dépôt et placement du Québec from 2001 to 2007. In 2006, he was recognized by Brendan Woods International as a Top Gun Asset Manager in Mining. He has a Bachelor of Science, Computer science from McMaster University (1986) and an MBA from the Hautes Etudes Commerciales which he obtained in 1992.

About Lucky Minerals: - Lucky Minerals Inc.'s Emigrant Project is focused on the exploration and development of several targets located in the core of the mineralized and intensely altered Emigrant Mining District, an historically important mining region with exploration and mining activities stretching back to the 1800's. Lucky Minerals shares trade on the TSX Venture Exchange under the trading symbol 'LJ' and through the OTCQB under the symbol LKMNF."

Eldorado Gold Corporation (NYSE: EGO) is a leading mid-tier gold producer with mining, development and exploration operations in Turkey, Greece, Romania, Serbia, Canada and Brazil.  On September 21, 2017, the company announced that it has entered into constructive dialogue with Greece's Ministry of Energy and Environment ("MoE") in respect to the development of the Company's subsidiary, Hellas Gold S.A.'s, Kassandra Mine assets in Halkidiki, Northern Greece.  The Kassandra assets, which include the Skouries and Olympias projects and the Stratoni mine, were permitted under one single Environment Impact Study approved in 2011 by the Greek State.

Yamana Gold Inc. (NYSE: AUY) is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions throughout the Americas including Canada, Brazil, Chile, and Argentina. Recently, the company reported preliminary operational results for the third quarter and for the first nine months of 2017. Production from the Company's mines in the third quarter was 257,000 ounces of gold, 1.43 million ounces of silver and 37.1 million pounds of copper. 

New Gold Inc. (NYSE: NGD) is an intermediate gold mining company with a portfolio of five producing assets in top-rated jurisdictions. The New Afton and Rainy River Mines in Canada, the Mesquite Mine in the United States, the Peak Mines in Australia and the Cerro San Pedro Mine in Mexico (which transitioned to residual leaching in 2016), provide the company with its current production base. The company recently reported that its Rainy River Mine has achieved commercial production, approximately two weeks ahead of schedule. As previously announced, the Rainy River Mine began processing ore as scheduled on September 14, 2017, and announced its first gold pour on October 6, 2017. In the first 30 days of operation, Rainy River has successfully processed approximately 457,000 tonnes of ore.

B2Gold Corp. (NYSE: BTG) is one of the fastest-growing intermediate gold producers in the world. Founded in 2007, today, B2Gold has five operating mines and numerous exploration and development projects in various countries including Finland, Nicaragua, the Philippines, Namibia, Mali, Burkina Faso and Colombia. The company recently announced its gold production and gold revenue for the third quarter and first nine months of 2017. Consolidated gold production in the third quarter of 2017 was 135,628 ounces, including 6,340 ounces of pre-commercial production from the newly-constructed Fekola Mine in Mali, exceeding budget by 2% and reforecast production by 15%. Consolidated gold revenue in the third quarter of 2017 was $154.1 million on sales of 121,597 ounces at an average price of $1,267 per ounce compared to $193 million on sales of 145,029 ounces at an average price of $1,331 per ounce in the third quarter of 2016.

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