Chart analysts expect a turning point, investors should still position themselves in time.
Since 1971, the price of gold, adjusted for inflation, has been close to its current level four times, calculated in U.S. dollars. The last time this was the case was around two years ago, and now it is just below US$2,000 per troy ounce. A turning point could be approaching. This is the opinion of Ned Naylor-Leyland of Jupiter Asset Management, for example. He expects a trend change that will gain momentum. In the recent gold price rally, even a strong U.S. dollar could not be an obstacle. The same applies to the ten-year U.S. yields, which rose during the same period. They, too, could not prevent a price increase of the precious metal. Chart technicians assume that the price correction is coming to an end and that the chance of a new all-time high is not bad.
If we include inflation, the gold price is moving in precisely the opposite direction to real interest rates. Inflation is high and interest rates are low, so real interest rates are negative. This is where gold is of particular interest to investors, because concerns about the purchasing power of paper currencies in the future are growing. Gold, on the other hand, is virtually risk-free money. Central banks have already recognized this and bought gold. More and more private individuals are also turning to physical gold, and demand is rising. And if the price of gold breaks out, it will drag the price of silver along with it, because silver, even if it has a dual function (investment and industry), follows the development of the price of gold. Mining stocks should therefore not be forgotten by investors, such as those of Skeena Resources or Tarachi Gold.
Following a recent acquisition, Skeena Resources - https://www.youtube.com/watch?v=qwQHXVfmBy4 - now owns nearly 85,000 hectares in British Columbia's Golden Triangle, making it one of the largest land positions there. The new properties are located near Skeena Resources' Eskay Creek and Snip projects.
Tarachi Gold - https://www.youtube.com/watch?v=qwQHXVfmBy4 - is active on projects in the Sierra Madre Gold Belt and Durango. Production is scheduled to start in Durango, Mexico next year.
Current corporate information and press releases from Skeena Resources (- https://www.resource-capital.ch/en/companies/skeena-resources-ltd/ -).
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