The downside potential for the gold price seems to be limited. Large and small speculators increase their long side.
For chartists, there is resistance at US$1,959. Before a further price breakout to the upside takes place, there could be another setback. In this case, the next resistance is at US$ 1,940 per ounce. The view of the Fed cannot be missing when it comes to the gold price. When it comes to the question of whether there will be another interest rate hike, the inflation rate is of interest. And this has gone in the USA in June again clearly downward. Consumer prices rose by only three percent year-on-year. This is the lowest level in more than two years. On July 26, the Fed will decide.
At the moment, the key interest rate is at five to 5.25 percent, the highest it has been in 16 years. Analysts are divided. Some expect further interest rate steps, others believe that the peak has already been reached and that no further interest rate steps will follow. And if the cycle of interest rate hikes has indeed come to an end, then the gold price should not go down, but up. This is the view of Commerzbank, for example. So, if the Fed then concentrates on fighting a recession, i.e.
U.S. real interest rates fall, then this increases the attractiveness of gold. Consequently, Commerzbank has revised its gold price forecast upward, to about US$2,000 per troy ounce for the next two quarters. A price above US$2,000 would be expected at the end of the current year. An investment in gold companies, which after all increase in value with a higher gold price, would now be an option.
Among the successful producers is Karora Resources - https://www.commodity-tv.com/ondemand/companies/profil/karora-resources-inc/ - with two gold mines in Western Australia. The first quarter of 2023 yielded almost 40,000 ounces of gold, 45 percent more than in the same quarter of the previous year.
In Quebec, Maple Gold Mines - https://www.commodity-tv.com/ondemand/companies/profil/maple-gold-mines-ltd/ - is working with Agnico Eagle Mines on the Joutel and Douay gold projects. Very good drill results are available.
Current corporate information and press releases from Maple Gold Mines (- https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd/ -) and from Karora Resources (- https://www.resource-capital.ch/en/companies/karora-resources-inc/ -).
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/
For chartists, there is resistance at US$1,959. Before a further price breakout to the upside takes place, there could be another setback. In this case, the next resistance is at US$ 1,940 per ounce. The view of the Fed cannot be missing when it comes to the gold price. When it comes to the question of whether there will be another interest rate hike, the inflation rate is of interest. And this has gone in the USA in June again clearly downward. Consumer prices rose by only three percent year-on-year. This is the lowest level in more than two years. On July 26, the Fed will decide.
At the moment, the key interest rate is at five to 5.25 percent, the highest it has been in 16 years. Analysts are divided. Some expect further interest rate steps, others believe that the peak has already been reached and that no further interest rate steps will follow. And if the cycle of interest rate hikes has indeed come to an end, then the gold price should not go down, but up. This is the view of Commerzbank, for example. So, if the Fed then concentrates on fighting a recession, i.e.
U.S. real interest rates fall, then this increases the attractiveness of gold. Consequently, Commerzbank has revised its gold price forecast upward, to about US$2,000 per troy ounce for the next two quarters. A price above US$2,000 would be expected at the end of the current year. An investment in gold companies, which after all increase in value with a higher gold price, would now be an option.
Among the successful producers is Karora Resources - https://www.commodity-tv.com/ondemand/companies/profil/karora-resources-inc/ - with two gold mines in Western Australia. The first quarter of 2023 yielded almost 40,000 ounces of gold, 45 percent more than in the same quarter of the previous year.
In Quebec, Maple Gold Mines - https://www.commodity-tv.com/ondemand/companies/profil/maple-gold-mines-ltd/ - is working with Agnico Eagle Mines on the Joutel and Douay gold projects. Very good drill results are available.
Current corporate information and press releases from Maple Gold Mines (- https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd/ -) and from Karora Resources (- https://www.resource-capital.ch/en/companies/karora-resources-inc/ -).
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/
