New record price for gold is near
(PresseBox) - The price of gold has already climbed to 2,930 US dollars per troy ounce.
According to the chart technicians, what the price of the precious metal does when it reaches the target of USD 2,975 per ounce is crucial. A steep correction could follow. But perhaps the precious metal will manage to jump above the USD 3,000 mark. A look at the inflation trend in the USA shows that inflation is still stubbornly persisting, even if it is cooling off somewhat. In February, the consumer price index rose by 2.8% year-on-year. Healthcare, transportation (cars) and food costs continue to rise. This means that inflation is still not at the target of two percent.
Interest rate cuts by the Fed, which is closely monitoring the inflation trend, could therefore come later than initially expected. Purchases of foodstuffs such as coffee, bacon and eggs in particular are tearing big holes in the pockets of the American population. A visit to a restaurant now costs around 3.7 percent more than a year ago. Home healthcare and hospital costs have become similarly more expensive. Car insurance alone went up by almost eleven percent last year.
Even the fall in petrol prices cannot make up for the price increases in other areas. It is assumed that the Fed will not turn the interest rate screw at the next meeting. After all, the threat of tariffs and the associated uncertainties must be taken into account. Although the Fed wants inflation to fall, it does not want to cause an economic slowdown. Investors could therefore now focus more on gold to protect themselves against inflation. Mining companies with gold in their projects benefit from rising gold prices. Solid companies in the royalty sector include Gold Royalty and Osisko Gold Royalties.
Gold Royalty - https://www.commodity-tv.com/ondemand/companies/profil/gold-royalty-corp/ - increased its total revenue by 146% in 2024 compared to the previous year. New projects will ensure growth this year.
Osisko Gold Royalties - https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-royalties-ltd/ - pays dividends and can also report record revenues for 2024.
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/ -).
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: 14.03.2025 - 12:30 Uhr
Sprache: Deutsch
News-ID 719056
Anzahl Zeichen: 4462
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"New record price for gold is near"
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