Gold is strong
Once again there was a good week for gold fans, so the price of the precious metal rose to over 1350 US dollars per troy ounce.
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In addition to the current political turmoil, the trade conflict, the protests in Hong Kong over an extradition law and the attack on two oil tankers have been added. The USA sees Iran as responsible for this attack near Iran and the Strait of Hormuz. This increases the attractiveness of gold.
Various large investors, such as billionaire investor Paul Tudor Jones, also see it this way. According to Jones, geopolitical disturbances have made gold his favorite business. If the gold price makes it up to 1400 US dollars per ounce, then 1700 US dollars per ounce could quickly be possible. In any case, since the trade disputes, which basically mean a reversal of globalisation, have existed, the volume of world trade has fallen sharply. When Trump and Xi Jinping will find a solution is still uncertain.
A further argument of those who believe in a rising gold price is the view that the US dollar will be significantly lower by the end of the year. Even though the US Federal Reserve has announced that it will leave the key interest rate unchanged this year, many expect it to be lowered further. From a historical perspective, a weak US dollar is positive for the gold price. The 52-week high of last Friday's gold price could thus show where the journey is heading.
For an investment in gold companies, for example, Bluestone Resources or GoldMining may be considered. Bluestone Resources - http://www.commodity-tv.net/c/search_adv/?v=299166 - owns the Cerro Blanco gold project in Guatemala, which has very good drilling results and is wholly owned by the Company.
GoldMining - http://www.commodity-tv.net/c/search_adv/?v=298886 - scores with gold projects in North and South America and also with its Yellowknife gold project in the North West Territories of Canada (more than one million ounces of gold explored and displayed).
Current corporate information and press releases from Bluestone Resources (https://www.resource-capital.ch/en/companies/bluestone-resources-inc/) and GoldMining (https://www.resource-capital.ch/en/companies/goldmining-inc/).
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