Revival Gold Stock: Gold prices went for a dip on Wednesday, with the main reason being that the U.S. dollar has strengthened. Looking at the Canadian market, there were some well-known gold stocks that ended the day deep in the red zone.
In this article, we’re going to be looking at Revival Gold, Inc. (CVE:RVG), a Toronto-based company that was founded in 2008.
Revival Gold Stock: June 27, 2018
On the same day that Gold prices fell to a new six-month low, the Revival Gold stock closed the day down nearly 10%.
According to Google Finance, at 3:58 p.m. EDT, the RVG stock was trading at $0.77 on the CVE. This means the stock was down 9.41% at the time.
But what happened? Revival Gold is a solid company with a lot going for it. It has rights to a 100% interest in a project called the Arnett Creek Gold Project, as well as a 51% interest in the Diamond Mountain project. It’s even set to start drilling at Arnett Creek towards the end of this year.
So, if the company has a lot going for it, and there is no news today that could be directly linked to the nearly 10% drop, why is it down? It’s possible that it is solely because of the fact gold prices plunged today. After all, Revival Gold is not the only gold stock that ended the day down on a Canadian exchange.
Gran Colombia Gold Corp (TSE:GCM) closed down 0.35%, while Atacama Pacific Gold Corp (CVE:ATM) closed down 1.61%. That said, not every gold stock was in the red zone today. For instance, Goldmoney (TSE:XAU) was trading up 5.61% at 4:00 p.m. EDT, according to Google Finance.
Revival Gold Stock: The Takeaway
Why do you think so many gold stocks were down on Canadian markets today? Any specific thoughts on the Revival Gold stock?
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