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Banks raise gold forecasts

Stock prices collapse, but the price of gold goes up and up. Now major banks have adjusted their forecasts for the future of the gold price

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A new record high in the price of the precious metal is currently no longer ruled out. In terms of charts, important marks have already been passed, both in euros and US dollars. This has also pushed up the price of its brother metal silver.

Goldman Sachs, the global investment banking firm, expects the price of gold to reach USD 1,950 per troy ounce in the second quarter of 2020. An important point for the further price development is the spread of the corona virus. The experts at Citigroup go a little further. In their opinion, the 2,000-euro mark could be broken in the next twelve to 24 months. That would be a new all-time high. The dangers of a recession in the USA are also cited as an argument for this.

The major Swiss bank UBS had already recently assumed USD 1,650 as the price of an ounce of gold. The main argument cited is the low interest rates. The Danish Saxo Bank Group was more cautious, had expected price setbacks, but this has already been overtaken. At the moment the gold price only knows the way up. 

Those who love gold coins can take a look at the 100 Euro gold coins of the Federal Republic of Germany or those who have a little more courage should bet on gold and silver stocks. For example, in the silver sector, Discovery Metals or in the gold sector, Gold Terra Resource (recently known as TerraX Minerals).

Discovery Metals, active in historic mining districts in Mexico, has a prospective property in Chihuahua with its flagship Cordero project: https://www.commodity-tv.com/play/discovery-metals-well-financed-for-development-further-exploration-at-cordero/. This extends over 35,000 hectares and has now scored again with very good drilling results.

Gold Terra Resource - https://www.commodity-tv.com/play/terrax-minerals-adding-value-by-more-drilling-and-increasing-existing-resource/ - is working on its Yellowknife City Gold Project (790 square kilometres) where the Con and Giant mines previously produced approximately 14 million ounces of gold.

Latest corporate news and press releases from Discovery Metals (https://www.resource-capital.ch/en/companies/discovery-metals-corp/) and Gold Terra Resource (https://www.resource-capital.ch/en/companies/gold-terra-resource-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.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also 
applies: https://www.resource-capital.ch/en/disclaimer/ 

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Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

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