Next summer, gold will shine and cast a spell over old and new investors.
This is the view of industry experts at Bank of America, for example. They have looked at the metal and mining sector in 2024. Although the Middle East war has led to higher gold prices, the Fed's interest rate decisions will be decisive in the longer term. And the second quarter of 2024 is probably the time when interest rates will change and the gold price should receive new impetus, and therefore new buyers. The Bank of America experts then see the gold price rising to USD 2,400 per troy ounce.
Although the development of 10-year interest rates and the US dollar will continue to be important, it will be the Fed's changes in direction that will ensure new prices. Interest rate cuts will therefore be the key event for the gold price. Geopolitical events are more likely to have a short-term impact on the price of the precious metal. The central banks' interest rate hikes are now gradually having an effect, the US economy is slowing down and the eurozone is in recession.
Another point that analysts point to is the relationship between the Middle East conflict and oil. There is potential here to lift gold to new record highs. The importance of the energy infrastructure in the Middle East should not be underestimated. In addition, the further development of demand in China and India - which together account for more than 50 percent of the physical gold market - is important. Investors who trust in gold can use leverage on the gold price to add stocks such as Tudor Gold or U.S. GoldMining to their portfolio.
Tudor Gold - https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/ - owns the promising Treaty Creek Gold Project in the Golden Triangle, a prime area in British Columbia.
U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - is located in Alaska with its Whistler gold-copper project. Exploration work and expansion efforts are underway.
Current company information and press releases from U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -).
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/
This is the view of industry experts at Bank of America, for example. They have looked at the metal and mining sector in 2024. Although the Middle East war has led to higher gold prices, the Fed's interest rate decisions will be decisive in the longer term. And the second quarter of 2024 is probably the time when interest rates will change and the gold price should receive new impetus, and therefore new buyers. The Bank of America experts then see the gold price rising to USD 2,400 per troy ounce.
Although the development of 10-year interest rates and the US dollar will continue to be important, it will be the Fed's changes in direction that will ensure new prices. Interest rate cuts will therefore be the key event for the gold price. Geopolitical events are more likely to have a short-term impact on the price of the precious metal. The central banks' interest rate hikes are now gradually having an effect, the US economy is slowing down and the eurozone is in recession.
Another point that analysts point to is the relationship between the Middle East conflict and oil. There is potential here to lift gold to new record highs. The importance of the energy infrastructure in the Middle East should not be underestimated. In addition, the further development of demand in China and India - which together account for more than 50 percent of the physical gold market - is important. Investors who trust in gold can use leverage on the gold price to add stocks such as Tudor Gold or U.S. GoldMining to their portfolio.
Tudor Gold - https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/ - owns the promising Treaty Creek Gold Project in the Golden Triangle, a prime area in British Columbia.
U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - is located in Alaska with its Whistler gold-copper project. Exploration work and expansion efforts are underway.
Current company information and press releases from U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -).
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/
