Optimistic investors in demand
(PresseBox) - Gold and silver fought against the downward trend of the summer. Both metals have now recovered.
Recently, the gold price even reached a good US$1,730 per troy ounce. The 1,700 U.S. dollars per ounce of gold is a support point that you should keep an eye on. Currently, gold is trading at slightly less than 1,700 US dollars. Despite this rally in the gold price, something still seems to be missing, namely optimistic investors. Only then can a sustained rally be assumed. Because still the Fed and the U.S. dollar are the dominant forces in the market. Currently, the Fed s aggressive rate hikes are responsible for the U.S. dollar being strong and bond yields being at near twelve-year highs. This is not doing the gold price so well.
Investors should not be discouraged by the headwinds for gold. Market analysts repeatedly point out that investors need to overcome the current volatility and keep an eye on the bigger picture. The United Nations Conference on Trade and Development just lowered its economic growth forecasts. It now expects global GDP growth of 2.5 percent this year and 2.2 percent in 2023. The IFO Institute is also predicting a sharp slowdown in the German economy. Real incomes among private households are falling and savings are losing value. To counter the melting purchasing power, investments in gold and gold companies should be considered. This is because gold, unlike paper currencies, retains its value and maintains purchasing power. Investors should also own stocks of gold companies, such as Tudor Gold or Revival.
Tudor Gold - https://www.youtube.com/watch?v=S_kqNjeK0qc - focuses on precious and base metals in the Golden Triangle in British Columbia. The main project is the Treaty Creek project.
Revival Gold - https://www.youtube.com/watch?v=5ILnR9Y6Vfc - is conducting drilling at its Beartrack-Arnett gold project in Idaho. The results are very encouraging (for example, twelve grams of gold per ton of rock).
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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Datum: 12.10.2022 - 06:07 Uhr
Sprache: Deutsch
News-ID 668904
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Contact person: Jörg Schulte
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