New tariff threats strengthen the gold price
Most experts agree that the demand for gold will remain stable in the long term.
(PresseBox) - In addition to US President Donald Trump s customs policy, geopolitical uncertainties continue to have an impact. No progress is being made on the ceasefire in the Ukraine war. The Middle East remains a hotspot. Attacks in the Gaza Strip have recently even intensified. Such crisis fears and the hunger for gold of many central banks as well as the growing demand from investors are making gold shine. According to the Bundesbank, Germany holds more than three million kilograms of gold, the second largest reserves in the world. In the first three quarters of 2024, many people sold coins, bars and old jewelry due to the high price of gold. Then the picture changed at the end of 2024. That s when the new US president came to power. Since then, the price of gold has risen sharply. And the uncertainties that arose at the end of 2024 continue.
Some major banks and investment houses have recently raised their gold price forecasts. UBS believes that 3,200 US dollars per troy ounce of gold is possible by the end of the year. The experts at J.P. Morgan are also bullish for gold. Goldman Sachs has raised its forecast for the current year from USD 3,000 to USD 3,300. Goldman Sachs also considers gold to be the best commodity investment. What could harm the gold price rally would be if the US Federal Reserve were to refrain from cutting interest rates. But only time will tell; at present, the increased uncertainties are fodder for the gold price rally. And so, Bank of America recommends buying gold if the price should go down. Investors should also look at gold companies, which naturally benefit from the high gold price. These include Revival Gold and Chesapeake Gold.
Revival Gold - https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ - is pleased with the convincing results of a preliminary economic assessment for its Mercur gold project in Utah, USA. A relatively short-term start of production is a further plus. Exploration efforts are underway at the Beartrack-Arnett gold project.
With the Metates project in the Mexican state of Durango, Chesapeake Gold - https://www.commodity-tv.com/ondemand/companies/profil/chesapeake-gold-corp/ - owns one of the largest undeveloped gold-silver deposits in America. In addition, there is the Talapoosa project (gold and silver) in Nevada and the Lucy project in Mexico.
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Datum: 03.04.2025 - 08:49 Uhr
Sprache: Deutsch
News-ID 719924
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