Gold price outlook very good
(PresseBox) - The world s largest online precious metals dealer for private investors has conducted a survey with very positive results.
The Bullion Vault survey brings it to light. The development of the gold price is seen as excellent until the end of 2024. According to the respondents, an ounce of gold will cost over 2,538 US dollars by the end of December. This would be a new all-time high and calculated in euros it would be 2,410 euros per ounce. Private investors were surveyed. The reasons for the higher gold price include inflationary pressure, geopolitical reasons and strong demand from central banks. Interest rate cuts by the European Central Bank could fuel demand for the precious metal. This is because they reduce the yields on bank deposits. European investors in particular, who have tended to be more cautious about gold, will be watching developments closely. This could therefore significantly increase the price of gold in the coming months.
After reaching an all-time high of USD 2,424 per troy ounce in May, a consolidation phase set in. This was caused by a stronger US dollar. This made gold more expensive for buyers from other currency areas. Many analysts, such as those at Bank of America, predict a gold price of USD 3,000 in the next 12 to 18 months. For this to happen, institutional investors would have to buy more gold and US interest rates would have to fall. If the inflow into gold-backed ETFs increases further and the proportion of US dollars in foreign currency portfolios is reduced in favor of gold, investors should be happy about higher gold prices. Investments in gold companies such as Karora Resources or Revival Gold are also investments in gold.
Karora Resources - https://www.commodity-tv.com/ondemand/companies/profil/karora-resources-inc/ - is successfully producing gold at two gold projects in Western Australia. Fortunately, cash operating costs have fallen, as nickel is also incurred in gold production.
Revival Gold - https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ - has the largest formerly producing gold mine in Idaho and exploration work is underway. The company is also working on a gold project in Utah.
Current company information and press releases from Karora Resources (- https://www.resource-capital.ch/en/companies/karora-resources-inc/ -).
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: 02.07.2024 - 07:03 Uhr
Sprache: Deutsch
News-ID 708059
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