Analysts at Bank of America have examined the outlook for commodities in 2024. Gold came off very well.
In addition to base metals, which Bank of America believes have good price prospects for the second half of the new year, gold in particular is set to shine. Although the price of gold has risen significantly as a result of the conflict in the Middle East, the Fed's monetary policy decisions are likely to ultimately boost the price. Interest rate cuts could drive the price of the precious metal up to USD 2,400 per troy ounce. In view of the enormous debt burden, the Fed will cut interest rates and then the low interest rates and a weaker US dollar will provide a boost to the gold price. It remains to be seen whether the Fed will cut interest rates in March or May. Further steps and statements by the ECB and the Bank of England will also have a certain impact on the price of the precious metal.
If investment demand for gold-backed exchange-traded products also increases, as there is still pent-up demand here, then higher gold prices should work. Some analysts believe that gold and silver are at the beginning of a bull market. The new all-time high recently reached would have underpinned this. The recent interest rate hikes have also shown that the gold price is strong. This is because it has remained relatively stable. Therefore, if the gold price is below the USD 2,000 mark, an entry should be considered. Gold companies in particular will benefit from a rise in the price of gold. Investors could therefore position themselves in good time, for example with an investment in Caledonia Mining or OceanaGold.
Caledonia Mining - https://www.commodity-tv.com/ondemand/companies/profil/caledonia-mining-corporation-plc/ - is producing successfully at the Blanket gold mine in Zimbabwe. The company holds a 64 percent stake in the mine, with local investors also providing acceptance.
OceanaGold - https://www.commodity-tv.com/ondemand/companies/profil/oceanagold-corp/ - produces gold and copper in the USA and the Philippines.
Current company information and press releases from OceanaGold (- https://www.resource-capital.ch/en/companies/oceanagold-corp/ -) and Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-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/
In addition to base metals, which Bank of America believes have good price prospects for the second half of the new year, gold in particular is set to shine. Although the price of gold has risen significantly as a result of the conflict in the Middle East, the Fed's monetary policy decisions are likely to ultimately boost the price. Interest rate cuts could drive the price of the precious metal up to USD 2,400 per troy ounce. In view of the enormous debt burden, the Fed will cut interest rates and then the low interest rates and a weaker US dollar will provide a boost to the gold price. It remains to be seen whether the Fed will cut interest rates in March or May. Further steps and statements by the ECB and the Bank of England will also have a certain impact on the price of the precious metal.
If investment demand for gold-backed exchange-traded products also increases, as there is still pent-up demand here, then higher gold prices should work. Some analysts believe that gold and silver are at the beginning of a bull market. The new all-time high recently reached would have underpinned this. The recent interest rate hikes have also shown that the gold price is strong. This is because it has remained relatively stable. Therefore, if the gold price is below the USD 2,000 mark, an entry should be considered. Gold companies in particular will benefit from a rise in the price of gold. Investors could therefore position themselves in good time, for example with an investment in Caledonia Mining or OceanaGold.
Caledonia Mining - https://www.commodity-tv.com/ondemand/companies/profil/caledonia-mining-corporation-plc/ - is producing successfully at the Blanket gold mine in Zimbabwe. The company holds a 64 percent stake in the mine, with local investors also providing acceptance.
OceanaGold - https://www.commodity-tv.com/ondemand/companies/profil/oceanagold-corp/ - produces gold and copper in the USA and the Philippines.
Current company information and press releases from OceanaGold (- https://www.resource-capital.ch/en/companies/oceanagold-corp/ -) and Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-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/
