Where is the gold price headed-
(PresseBox) - In order for the price of the precious metal to continue to rise, the US$2,075 mark should be exceeded.
This roughly corresponds to the high from 2020 and 2022. If the price rises to 2,200 US dollars per ounce, this would be around 20 percent more than in the previous year. The low was 1,600 U.S. dollars per ounce; if it doubled, the ounce of gold would cost 3,200 U.S. dollars. That's because from the Lehman low to the peak of $1,921 in 2011, a doubling occurred within three years. That was when the Fed started QE (expanding the money supply). If a similar trend were to set in, the price of gold would be $3,200 per ounce by 2025. Gold clearly reacts to an increase in U.S. government debt.
According to estimates, this could amount to around 200 percent of gross domestic product by 2050. When it comes to gold price scenarios, Nicky Shiels has made a name for himself. The scenarios show that regardless of the U.S. debt situation, gold can retain its value and offer investors security. And if U.S. debt rises to 200 percent of GDP, then an ounce of gold would have to cost about $3,500.
The current bull market in gold has formed on the basis of a gold price of about $1,600. Should the gold price fall, then it could be severe setbacks, similar to the highs of 2011, 2020 and 2022. It is still uncertain how long the Fed will continue its monetary policy, also the fight against inflation has not yet been won. Therefore, there are also voices that warn that the gold price could correct. But still the upward trend is intact and gold, so also gold companies shine.
Revival Gold - https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ -, for example, owns the Beartrack-Arnett gold property in Idaho. It is the largest formerly producing gold mine in Idaho.
Skeena Resources - https://www.commodity-tv.com/ondemand/companies/profil/skeena-resources-ltd/ - is also working to revive a previously producing gold mine, the Eskay Creek mine in British Columbia. In addition, the company owns the Snip gold mine, also in the Golden Triangle in British Columbia.
Current corporate information and press releases from Skeena Resources (- https://www.resource-capital.ch/en/companies/skeena-resources-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.
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Unternehmensinformation / Kurzprofil:
Datum: 19.04.2023 - 17:24 Uhr
Sprache: Deutsch
News-ID 681814
Anzahl Zeichen: 4242
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Contact person: Jörg Schulte
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"Where is the gold price headed-"
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