Continuation of the gold price rally
There is consensus that the gold price correction is over. But how will it continue. Analyst Ole Hansen from SAXO Bank, for example, sees a further rise to 1,922 U.S. dollars per ounce if the gold price exceeds 1,876 U.S. dollars per ounce (and this has already been achieved). This would be the next important mark. As a prerequisite, he names a continued downward trend in U.S. economic data as necessary. This would keep US government bond yields at a low level and push the US dollar further down.
The analysts at ABN AMRO in the Netherlands are not so optimistic. They do not expect permanent inflation and even expect a slight increase in U.S. real yields. For the end of 2021, they only see a gold price of 1,500 U.S. dollars per ounce. The United Overseas Bank (UOB) in Singapore has much more confidence in the precious metal, namely a price of more than 2,000 U.S. dollars per ounce in the near future. The bankers cite as reasons the strong increase in jewelry demand in Asia and the fact that the gold price was hardly influenced, or not influenced at all, by ETF outflows or increased bond yields.
In any case, the gold price and gold investors are likely to face exciting times. A number of factors should speak for strength, such as the fact that important resistance levels have been overcome and that there are net inflows into gold ETFs again. Perhaps now is the best time to be interested in gold mining stocks. For example, there is CanaGold or Fury Gold Mines.
CanaGold - https://www.youtube.com/watch?v=dZ1cjJ0iiG8 - has started drilling at its 100 percent owned New Polaris property in British Columbia. Best funded, options on additional projects are on the horizon.
Fury Gold Mines - https://www.youtube.com/watch?v=sk30d-jFSQY - has gold projects in Canada, in Nunavut, British Columbia and Quebec. Most recently, the Eau Claire project assayed up to 94 grams of gold per tonne of rock.
Latest corporate information and press releases from Fury Gold Mines (https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/).
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