Large Canadian gold miners ‘to finish year strong’ despite lower prices – EY

Despite lower gold prices in the second and third quarters of the year, Canada’s large-cap gold companies are trending towards a stronger second half and most of them are looking to finish the year strong, EY Canada Mining and Metals transaction leader Jay Patel said on Tuesday.

The gold price decreased by 5% in the third quarter, consistent with the decline in the second quarter, mainly owing to the strong US dollar and the recent Federal Reserve rate hike in September.