Bellevue Gold (ASX:BGL) share price sinks lower: Is this a buying opportunity?

The Bellevue Gold Ltd (ASX: BGL) share price is out of form on Thursday and is sinking lower again.

At the time of writing the gold-focused mineral exploration company’s shares are down 6% to $1.32.

This latest decline means the Bellevue Gold share price is now down over 11% since hitting a record high of $1.49 on Monday. Why is the Bellevue Gold share price sinking lower?

Investors have been selling the company’s shares over the last few days after a meaningful pullback in the gold price.This has been driven by news of a potentially effective COVID-19 vaccine being developed by Pfizer, which has given risk sentiment a boost and put pressure on safe haven assets.The impact has been so great that it has overshadowed a positive update by the company this week in relation to its resource estimate at its Bellevue Gold Project in Western Australia.According to the release, the […]

Click here to view original web page at www.fool.com.au

About the author: StockMan

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.