August provided a new gold price record twice
(PresseBox) - This time, many analysts are forecasting a gold price that tends to move sideways.
In July, the gold price went up by 1.9 percent in euro terms. Observed over a long period of time, August is one of the good gold months. It is in fourth place. In the last three years, however, a minus had to be booked in August. There was an all-time high in August in 2019 (1,385 euros) and also in 2020 (1,741 euros). According to the World Gold Council, gold demand in the first half of 2023 was 2.5 percent lower than in the same period last year. Central banks, which were not as eager to buy in the last quarter, were primarily responsible for this. To be precise, they bought 35 percent less gold than in the same quarter last year. On the other hand, demand from the jewelry sector increased. Investment demand, meaning bars, coins and ETFs, even saw a 20 percent increase. This is because ETFs had only half as many outflows.
Basically, the summer months are not predestined to generate a large plus in the gold price. If you look at the major banks, the Bank of America, for example, forecasts an average gold price of $ 1,923 per ounce for the year. The experts at Credit Suisse expect the gold price to stabilize but see the possibility of seeing new highs in the gold price before the end of the year. No matter how the gold price develops in the coming months, in the longer-term gold investments should be viewed positively. This also applies to investments in gold companies such as Calibre Mining and Condor Gold.
Calibre Mining - https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ - is a mid-tier gold producer focused on the Americas and just announced its third consecutive record quarter. Further growth is a goal.
Condor Gold - https://www.commodity-tv.com/ondemand/companies/profil/condor-gold-plc/ - is focusing on three projects in Nicaragua. The La India project (100 percent) covers 588 square kilometers and covers 98 percent of the historic La India gold mining district.
Current corporate information and press releases from Calibre Mining (- https://www.resource-capital.ch/en/companies/calibre-mining-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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Datum: 07.08.2023 - 02:05 Uhr
Sprache: Deutsch
News-ID 688794
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"August provided a new gold price record twice"
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