New week, new all-time high for the gold price

Last week, gold reached a new all-time high of 3,057 US dollars per ounce. What could happen next.

According to chart technicians, a rise in the price of gold above USD 3,040 and a breakout above USD 3,055 would be necessary to prevent a correction. If this happens, new waves of buying could push the price of the precious metal up to USD 3,088. Slight price corrections should be mild and/or only short-term in view of the continuing price-driving factors. For thousands of years, people have turned to gold and silver when they are worried. Today, these precious metals have lost none of their appeal, on the contrary. The flight to gold today has become a flight to safer waters. The fact that the price of gold has broken through the 3,000 US dollar mark has awakened many investors and brought the precious metal more into focus.

Even famous investors such as Jim Rogers have increased their gold and silver holdings. One factor that is causing concern and uncertainty is the immense debt that many countries have built up. Central banks are multiplying paper money and debts continue to rise. This generally leads to more inflation and is therefore positive for the gold price. The gigantic debt of the USA alone amounts to around 36.6 trillion US dollars. And the debt is already higher than the economic output. The silver price is still lagging behind the gold price. Perhaps this is because the price of gold is much more visible to the public than the price of silver. In view of the enormous demand for silver in the coming years and the silver deficit that has existed for years, this is not justified. But word should get around that not only gold, but also its little brother silver, can act as a safe haven. And that silver in particular, a good half of which is an important industrial metal, is facing bright times.

MAG Silver – https://www.commodity-tv.com/ondemand/companies/profil/mag-silver-corp/ – is one of the very good candidates in the silver sector. The company has a stake in the successful Juanicipio silver mine in Mexico in the Fresnillo Silver Trend. This produces gold and silver.

In the gold sector, for example, Goldshore Resources – https://www.commodity-tv.com/ondemand/companies/profil/goldshore-resources-inc/ – is attracting attention with its Moss Gold Project in Ontario, Canada. The advanced project once again shines with the latest assay results from the current drilling program.

Current company information and press releases from Goldshore Resources (- https://www.resource-capital.ch/en/companies/goldshore-resources-inc/ -) and MAG Silver (- https://www.resource-capital.ch/en/companies/mag-silver-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.

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