In the medium term gold mining companies expect an increase in the price of gold.

The prices of gold grew yesterday (around 2%) to $ 1,156.63, reflecting to some extent the fluctuations in the quotations of the dollar and the decline in stock prices. This morning, again there was a decline in the price of the metal caused by yesterday's statement by Janet Yellen, a sign of lifting US interest rates before the end of 2015. At the moment the price is hovering around $ 1144 at slightly under MA100 (Daily).

According to data from the official statistical office of the Hong Kong imports into China in August was 59.3 tons, which is more than twice the volume in the same period of 2014. The main reasons for the increased demand from China is looking at the decline of gold- price in July and early August. For the first eight months of 2015, Hong Kong recorded aggregate sold 484.6 tons of gold in China, which is close to last year's volume.

On the other hand, in China now beginning period of the year, which is characterized by an increased demand for traditional gold. The period begins in October with the so-called. "Golden week" and ends with New Year Festival in early February. For this reason, analysts at Commerzbank claim that certain Chinese imports of gold in the coming months will grow. And this will have some support to the price.

According to Thomson Reuters GFMS and Societe Generale, in the second quarter, the global portfolio of gold with hedging function is decreased by 17 tons to 177 tons. Analyses and Reuters GFMS and Societe Generale expected contraction in volumes hedging positions in gold mining companies, which is considered to be an indirect sign that manufacturers consensus expected growth medium gold-price.

Shares of leading mining companies are still in long down trend, but gradually get away from the lowest levels:

Fresnillo plc. (Production includes silver, gold, lead and zinc. The Company has six operating mines.) FRES.L on London Stock Exchange: 620.00 GBp; 5:24am EDT; 52-wk range: 939.50p / 569.62p.

Kinross Gold Corporation (The Company is engaged in gold mining and related activities, including exploration and acquisition of gold-bearing properties, the extraction and processing of gold-containing ore, and reclamation of gold mining properties.) KGC on NYSE:  1.71 USD; 24 Sep 2015; 52-wk range: $ 3.71/ $ 1.35.

Anglo Gold Ashanti Limited (a gold mining and exploration company. The company works across the spectrum of the mining value chain. The Company also produces silver, uranium and sulfuric acid as by-products.) AU on NYSE: 8.38 USD; 24 Sep 2015; 52-wk range: $ 13.20 / $ 5.64.

Barrick Gold Corporation (a gold mining company. The Company is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. ) ABX on NYSE:  6.56 USD; 24 Sep 2015; 52-wk range: $ 15.65 / $ 5.91.

JrTrader G.Hristov