Gold – a real asset

A constantly higher gold price would of course please gold fans the most. Currently, however, precious metal prices are under pressure. This applies not only to gold, but also to silver or palladium. In the case of palladium, the fear that China’s boom is over plays a role. Because China is the most important palladium consumer. Currently, China is looking for a balance between containing further yuan devaluation and supporting the economy. Especially for gold, rising real interest rates mean headwinds. About 40 percent of the market still sees a further rate hike by the Fed. The majority assumes that there will be no more rate hikes. This is exactly the point where the gold price should trend upward again, and this should still happen during the current year.

Another factor is the intensifying hope that the U.S. economy will skirt a severe recession. So another burden for the gold price. But in the medium to long term, optimism for a higher gold price prevails. And not only because of the expected further action by the Fed, but also because the U.S. dollar is probably in a downtrend. Many analysts assume that new record highs are coming. Only when this will be the case is difficult to predict. ANZ (Australia and New Zealand Banking Group Limited), for example, foresees new record highs by the end of the first quarter of 2024 with a gold price of around 2,100 U.S. dollars. Recommended gold investments include stocks such as Osisko Development and Skeena Resources.

Osisko Development – https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/ – operates in Mexico, USA and Canada (Cariboo gold project in British Columbia, Tintic project in Utah, San Antonio gold project in Mexico). In the second quarter, 3,830 ounces of gold were sold.

Skeena Resources – https://www.commodity-tv.com/ondemand/companies/profil/skeena-resources-ltd/ – is working to revitalize two prospective gold projects in the Golden Triangle in British Columbia.

Current corporate information and press releases from Osisko Development (- https://www.resource-capital.ch/en/companies/osisko-development-corp/ -) and Skeena Resources (- https://www.resource-capital.ch/en/companies/skeena-resources-ltd/ -).

In accordance with §34 of the German Securities Trading Act (WpHG), I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.

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