The reasons for the price increases are not the same for the two metals. The price of gold has lost some ground again following another record price. According to chart technicians, the price of the precious metal should not fall below the magic mark of USD 2,400 per troy ounce, otherwise it could fall to USD 2,370 per troy ounce before a new buy signal is given. However, it is more likely that gold will defend its USD 2,400 mark and perhaps even rise to USD 2,630 soon.
This is because the recent inflows into ETFs, including ETFs in the US, are creating optimism and argue against a price decline. Two or possibly even three interest rate cuts in the USA should drive the gold price. At the moment, the high gold price is presumably leading to lower gold exports to India and China. More gold is currently being exported to the United Kingdom.
The price trend for copper has also been pleasing so far this year. A few months ago, there was even a new price record of more than USD 11,000 per tonne of copper. In short, a supply deficit and growing demand are coming together. The automotive industry is driving the price of copper, and the strong growth in demand for electricity, not least due to artificial intelligence, is also having an impact. Added to this is the wind and solar industry.
Many experts expect metal prices to continue to rise over the next twelve months. New copper discoveries are few and far between and it currently takes around 18 years for a new copper mine to come on line. In 2022, around 25 million tons of copper were needed worldwide, and an estimated 30 million tons copper will be needed by 2035. Collective Mining and U.S. GoldMining, for example, have copper and gold in their projects.
Collective Mining - https://www.commodity-tv.com/ondemand/companies/profil/collective-mining/ - owns projects in Colombia with copper, silver, gold and tungsten.
U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - is exploring the Whistler project in Alaska. It covers a good 217 square kilometers and contains gold and copper. Drilling is underway.
Current company information and press releases from U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -) and Collective Mining (- https://www.resource-capital.ch/en/companies/collective-mining-ltd/ -).
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 because the recent inflows into ETFs, including ETFs in the US, are creating optimism and argue against a price decline. Two or possibly even three interest rate cuts in the USA should drive the gold price. At the moment, the high gold price is presumably leading to lower gold exports to India and China. More gold is currently being exported to the United Kingdom.
The price trend for copper has also been pleasing so far this year. A few months ago, there was even a new price record of more than USD 11,000 per tonne of copper. In short, a supply deficit and growing demand are coming together. The automotive industry is driving the price of copper, and the strong growth in demand for electricity, not least due to artificial intelligence, is also having an impact. Added to this is the wind and solar industry.
Many experts expect metal prices to continue to rise over the next twelve months. New copper discoveries are few and far between and it currently takes around 18 years for a new copper mine to come on line. In 2022, around 25 million tons of copper were needed worldwide, and an estimated 30 million tons copper will be needed by 2035. Collective Mining and U.S. GoldMining, for example, have copper and gold in their projects.
Collective Mining - https://www.commodity-tv.com/ondemand/companies/profil/collective-mining/ - owns projects in Colombia with copper, silver, gold and tungsten.
U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - is exploring the Whistler project in Alaska. It covers a good 217 square kilometers and contains gold and copper. Drilling is underway.
Current company information and press releases from U.S. GoldMining (- https://www.resource-capital.ch/en/companies/us-goldmining-inc/ -) and Collective Mining (- https://www.resource-capital.ch/en/companies/collective-mining-ltd/ -).
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/
