The yellow metal reached its highest price in January, in the end 2021 will probably end with a minus, but there is hope.
The gold price reached its lowest point in March at around 1,680 US dollars, a long way from its high in January at 1,950 US dollars per troy ounce. Since the spring, the gold price has hovered between 1,750 and 1,830 US dollars. One factor that weighed on the gold price was the significant appreciation of the US dollar. Also, ten-year U.S. Treasury bonds have gone up over the course of the year. Looking at the price of the precious metal in euro terms, however, it hit a 14-month high in November.
But there are positive aspects. For example, gold jewellery demand has recovered significantly, not only in India and China, but also in Western countries. Incomes have risen and what was postponed at the beginning of the pandemic, such as weddings, have been made up for. Continued high inflation rates and significantly negative real yields should help the price of gold to rebound. Demand for gold coins and bars is high this year and, in contrast to last year, central banks have also been happy to buy again this year. Here, industry experts expect further purchases by central banks in the coming year as well. After all, gold's suitability for diversification is well known. And the central banks are striving to reduce the US dollar portion of their reserves. Important for the development of the gold price should be whether the gold ETFs will be able to record inflows again. Here, the further sentiment in the US equity markets will be a factor. In any case, a few gold stocks in the portfolio could not hurt. For example, Maple Gold Mines or Skeena Resources.
Maple Gold Mines - https://www.youtube.com/... -, together with Agnico Eagle Mines, is advancing the Douay and Joutel gold projects in Quebec. Both are located in the Abitibi greenstone belt there.
Skeena Resources - https://www.youtube.com/... - is handling the resurrection of the previously producing Eskay Creek gold-silver mine and the Snip mine in British Columbia.
Current corporate information and press releases from Maple Gold Mines (https://www.resource-capital.ch/... -) and Skeena Resources (- https://www.resource-capital.ch/... -).
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/...
The gold price reached its lowest point in March at around 1,680 US dollars, a long way from its high in January at 1,950 US dollars per troy ounce. Since the spring, the gold price has hovered between 1,750 and 1,830 US dollars. One factor that weighed on the gold price was the significant appreciation of the US dollar. Also, ten-year U.S. Treasury bonds have gone up over the course of the year. Looking at the price of the precious metal in euro terms, however, it hit a 14-month high in November.
But there are positive aspects. For example, gold jewellery demand has recovered significantly, not only in India and China, but also in Western countries. Incomes have risen and what was postponed at the beginning of the pandemic, such as weddings, have been made up for. Continued high inflation rates and significantly negative real yields should help the price of gold to rebound. Demand for gold coins and bars is high this year and, in contrast to last year, central banks have also been happy to buy again this year. Here, industry experts expect further purchases by central banks in the coming year as well. After all, gold's suitability for diversification is well known. And the central banks are striving to reduce the US dollar portion of their reserves. Important for the development of the gold price should be whether the gold ETFs will be able to record inflows again. Here, the further sentiment in the US equity markets will be a factor. In any case, a few gold stocks in the portfolio could not hurt. For example, Maple Gold Mines or Skeena Resources.
Maple Gold Mines - https://www.youtube.com/... -, together with Agnico Eagle Mines, is advancing the Douay and Joutel gold projects in Quebec. Both are located in the Abitibi greenstone belt there.
Skeena Resources - https://www.youtube.com/... - is handling the resurrection of the previously producing Eskay Creek gold-silver mine and the Snip mine in British Columbia.
Current corporate information and press releases from Maple Gold Mines (https://www.resource-capital.ch/... -) and Skeena Resources (- https://www.resource-capital.ch/... -).
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/...
