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Big banks optimistic for gold price

Even if the gold price is taking a breather, many experts are certain that a new price increase is imminent.

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The trade dispute between China and the USA has eased somewhat. As a result, the price of this precious metal has fallen by around seven percent since the beginning of September. Nevertheless, analysts at major banks such as Goldman Sachs, UBS and Morgan Stanley remain very optimistic. 

Goldman Sachs, a US investment bank, continues to expect a gold price of 1,600 US dollars for 2020. The reasons are the political uncertainties that will continue to accompany the gold price and the prospect of a weakening economy. UBS, the major Swiss bank, expects the price of gold to stand at USD 1,600 in the new year. We are eagerly awaiting the next rise in precious metal prices.

The major US bank Morgan Stanley has just announced that it expects gold prices to rise further in 2020. This was due to a lower US dollar. According to Morgan Stanley, this is because higher growth rates can be expected outside the USA.

The strong demand for gold is currently coming not only from institutional investors, but also from many private investors. They all want to hedge their portfolios. The gold holdings invested in the ETC "Xetra Gold" of Deutsche Börse have reached a record level of over 200 tonnes. This represents a value of approximately 8.5 billion euros, also a record.
With a lever, the gold companies naturally win with a rising gold price. So it's time to take a look at these companies, such as Skeena Resources or US Gold.

Skeena Resources operates its Snip and Eskay gold mines in the British Columbia Golden Triangle. Recent drilling at Eskay has returned up to 19.73 grams of gold equivalent. The portfolio also includes the GJ copper-gold porphyry mine.

US Gold owns several projects in Wyoming and Nevada - https://www.commodity-tv.com/play/us-gold-acquisition-of-maggie-creek-pfs-for-keyhole-copper-deposit-in-2020/. Now that the Company has the option to acquire up to 70 percent of the Maggie Creek property, there are two exploration projects with high potential in Nevada. Maggie Creek is in the middle of the Carlin trend, adjacent to a 26-million-ounce gold mine.

Current corporate information and news releases from Skeena Resources (https://www.resource-capital.ch/en/companies/skeena-resources-ltd/) and US Gold ( https://www.resource-capital.ch/en/companies/us-gold-corp/).

In accordance with §34 WpHG, I would like to point out that partners, authors and employees can hold shares in the companies mentioned in each case and therefore there is a possible conflict of interest. Only the German version of these messages applies.

Disclaimer: The information provided does not constitute any form of recommendation or advice. We expressly point out the risks involved in securities trading. No liability can be assumed for damages resulting from the use of this blog. I would like to point out that shares and in particular warrant investments are generally 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. I expressly reserve the right to make a mistake, in particular with regard to figures and exchange rates, despite the utmost care. The information contained herein has been obtained from sources believed to be reliable but does not claim to be accurate or complete. Due to court rulings the contents of linked external sites are also to answer for (so among other things district court Hamburg, in the judgement of 12.05.1998 - 312 O 85/98), as long as no explicit dissociation from these takes place. Despite careful control of the contents, I do not assume any liability for the contents of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/ 

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Always up to date with the newsletter from SRC

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.

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