Gold perhaps top commodity performer in new year
(PresseBox) - Gold fans hope for the easing of central banks. Because then the limitation in the price movement of gold will fall away.
The outlook for the first half of 2023 is not yet as good, but then the burdens on the gold price should disappear or become smaller. A price increase is therefore expected in the second half of 2023 at the latest. This is because real interest rates should rise, and the US dollar should weaken. And if there is a recession, the precious metal should move up in price. Also of interest is the growing discrepancy between gold prices in euros, in yen and in U.S. dollars - for many also a positive sign for higher gold prices. After all, from the beginning of the year to the end of November, gold has lost about five percent in U.S. dollars. In contrast, there are gains of five and 15 percent in euros and yen. The U.S. Federal Reserve will also certainly not repeat what was set in motion in the 1980s by then Federal Reserve Chairman Paul Volcker. He was able to get inflation out of the way, but a severe recession was the result, along with a long period of weakness in the price of gold.
Since the Fed does not want to conjure up this scenario again, the gold price should consolidate, as experts believe, at over 1,900 U.S. dollars per troy ounce of gold. Bad for the gold price would be a strong recovery of economic growth, although good for industrial metals, but there are no signs of this. Therefore, it is necessary to position oneself in the gold sector in time to be part of the upswing. Among the gold companies, Condor Gold and Golden Rim Resources are appealing.
Condor Gold s - https://www.youtube.com/watch?v=yW83034oc7s - gold projects are located in Nicaragua. The main project is the La India property, a 588 square kilometer concession area. It covers 98 percent of the historic La India gold mining district.
Golden Rim Resources - https://www.youtube.com/watch?v=GaucOoERsE8 - owns a joint venture for a porphyry copper project in Chile and a copper-silver-lead-zinc project nearby in Paguanta, in addition to its flagship Kada (gold) project in Guinea. The sale of another project recently flushed more than $15 million into the coffers.
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Datum: 12.12.2022 - 01:27 Uhr
Sprache: Deutsch
News-ID 672642
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