Industry Consolidation Could See Gold Rise
After six straight months of losses, gold could finally have found a bottom. A strong U.S. dollar and interest rate hikes have kept the price of the precious metal down so far this year and hovering around $1,200 an ounce. However, the yellow metal could be on the rise due to increased merger and acquisition activity, such as mining giants Barrick Gold (ABX) and Randgold Resources (GOLD) teaming up, which is a telltale sign of an industry finding a bottom.
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