Contrary to what is generally the case, the price of the precious metal ignores the strength of the US dollar.
New records for the gold price seem to be only a matter of time, at least according to technical gold analyses. Although the silver price has also turned upwards, it has lagged behind gold. From a technical perspective, gold continues to shine with strength. Chart technicians have yet to observe any significant bearish reversal patterns. The bullish momentum remains intact. The immediate target is 2,222 US dollars per troy ounce. This was last week's high. The next upward target could be USD 2,359 per troy ounce, according to chart technicians (Fibonacci calculations).
But there are other considerations that speak in favor of a further rise in the price of gold. Firstly, a new precious metal cycle could be starting. This is because the gold price moves in cycles. The first was after the abolition of the gold standard. Today, a new cycle could have emerged due to high government debt, the gold rush by central banks and high inflation. On the other hand, gold-hungry central banks are planning further gold purchases. Around 71% of central banks are banking on increasing gold reserves, according to a survey. With the flight from the US dollar, many, including emerging markets, are now turning to gold. And gold has not only reached new heights in US dollar terms, the precious metal is also more expensive than ever in euros or other currencies. Falling interest rates will soon make gold even more attractive. Geopolitical uncertainties are also driving more investors into the safe haven of gold. 2023 was a good year for gold and, with justified hopes for a good 2024 for gold, gold companies should also be considered alongside physical gold.
There is Gold Royalty - https://www.commodity-tv.com/ondemand/companies/profil/gold-royalty-corp/ - (more than 200 royalties in the gold and copper sector), Osisko Gold Royalties - https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-royalties-ltd/ - (more than 180 royalties and streams) or the financing company Queen's Road Capital Investment - https://www.commodity-tv.com/ondemand/companies/profil/queens-road-capital-investment-ltd/ -, which provides financing for mining operations and can also be a lucrative investment opportunity for investors.
Current corporate information and press releases from Osisko Gold Royalties (- https://www.resource-capital.ch/en/companies/osisko-gold-royalties-ltd/ -) and
Gold Royalty (- https://www.resource-capital.ch/en/companies/gold-royalty-corp/ -) and Queen's Road Capital Investment (- https://www.resource-capital.ch/en/companies/queens-road-capital-investment-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/
