Gold proved to be a crisis-proof investment in 2023. Gold should also shine in 2024, or especially so.
Last year, the price of a troy ounce of gold rose by around 14%. At the end of the year, one ounce of gold cost 2053 US dollars. The current price is around 2045 US dollars. On the one hand, the various geopolitical risks speak in favor of gains in gold investments in the current year. In addition, major upcoming elections such as in the USA, India and the EU could strengthen gold as a hedge. Secondly, central bank demand should also prove to be very robust in the new year. According to estimates, central bank purchases have lifted the value of gold by around ten percent. If this trend intensifies, higher gold prices are inevitable. Investors will continue to keep a close eye on the decisions of the US Federal Reserve in 2024. Economic growth should be low, but still positive. Most analysts are now expecting a soft landing.
Inflation is also likely to fall further as a result. The central banks can then start to cut interest rates, which in turn would please investors. Nevertheless, the risk of a recession has not yet completely disappeared. After all, seven of the nine tightening cycles ended in recession. The two soft landings in the past did not result in such high returns for the gold price. Overall, however, risk and uncertainty are positive for investments in precious metals, especially gold. And if there is a recession, the economy will weaken, inflation will fall, and this would be positive for the gold price. Because then the expectation of falling interest rates would dominate the market all the more. A look at gold companies such as U.S. GoldMining or Calibre Mining would not hurt.
U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - owns the promising Whistler gold-copper project in Alaska.
Calibre Mining - https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ - is focused on North and South America. Projects are located in Nevada, Washington and Nicaragua.
Current company information and press releases from U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -) and Calibre Mining (- https://www.resource-capital.ch/en/companies/calibre-mining-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
Last year, the price of a troy ounce of gold rose by around 14%. At the end of the year, one ounce of gold cost 2053 US dollars. The current price is around 2045 US dollars. On the one hand, the various geopolitical risks speak in favor of gains in gold investments in the current year. In addition, major upcoming elections such as in the USA, India and the EU could strengthen gold as a hedge. Secondly, central bank demand should also prove to be very robust in the new year. According to estimates, central bank purchases have lifted the value of gold by around ten percent. If this trend intensifies, higher gold prices are inevitable. Investors will continue to keep a close eye on the decisions of the US Federal Reserve in 2024. Economic growth should be low, but still positive. Most analysts are now expecting a soft landing.
Inflation is also likely to fall further as a result. The central banks can then start to cut interest rates, which in turn would please investors. Nevertheless, the risk of a recession has not yet completely disappeared. After all, seven of the nine tightening cycles ended in recession. The two soft landings in the past did not result in such high returns for the gold price. Overall, however, risk and uncertainty are positive for investments in precious metals, especially gold. And if there is a recession, the economy will weaken, inflation will fall, and this would be positive for the gold price. Because then the expectation of falling interest rates would dominate the market all the more. A look at gold companies such as U.S. GoldMining or Calibre Mining would not hurt.
U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - owns the promising Whistler gold-copper project in Alaska.
Calibre Mining - https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ - is focused on North and South America. Projects are located in Nevada, Washington and Nicaragua.
Current company information and press releases from U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -) and Calibre Mining (- https://www.resource-capital.ch/en/companies/calibre-mining-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
