Gold price recoversHerisau, )
The gold price has just reached the important support level of 1,800 US dollars. It went down with the stock and bond markets, and to some extent also with the mining stocks. Now the gold price seems to stabilize, as does the HUI gold mining index, also called the NYSE Arca Gold BUGS Index, which contains shares of gold producers. Whether the correction in the gold price is now complete, we will see. At the latest at the end of the correction one should be on the buyer's side. It is also worth looking back to 2011, when the price of gold was at a record high of $1,920 per ounce at the time, before it went down in price for a long time. By the time quantitative easing came to an end, the price of an ounce of gold was only around $1,500. Today it is significantly higher at around 1,800 US dollars.
There is a growing body of opinion that it will be extremely difficult, if not impossible, to combat inflation in the long term. This is because inflation is simply too high. In addition, supply bottlenecks are causing inflation to rise even further. This is a problem against which central banks are powerless. So gold, which is a hedge against inflation and also helps against equity volatility, should shine, even if the road to higher prices takes a while. On the one hand, it is the war in Ukraine that can push gold prices higher, and on the other hand, a strong U.S. dollar works against it. Those who are optimistic about the gold price might consider investing in Gold Terra Resource or Chesapeake Gold.
Gold Terra Resource - https://www.youtube.com/watch?v=fyf8rv94t44 - owns the Yellowknife City Gold Project in the Northwest Territories. How promising the project is, can be seen from the very good drill results.
Chesapeake Gold - https://www.youtube.com/watch?v=DHxF_-3tU1c -, active in South and North America, is also pleased with excellent drill results at its flagship Metates project.
Latest corporate information and press releases from Gold Terra Resource (- https://www.resource-capital.ch/en/companies/gold-terra-resource-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.
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