Gold outperforms other assets
Whenever inflation rises quickly and sustainably, gold has the best chance of beating other assets.
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After all, gold is a physical asset with no liabilities. Inflation can therefore diminish the value of gold, just as it can do to bonds and stocks when inflation prevails. Even without the dreaded recession, inflation will remain. High commodity costs and general price pressures are responsible. Inflation was further accelerated by the Ukraine war.
In addition to the known uncertainties, the mid-term elections in the USA will take place in November. The loss of purchasing power, which no citizen can escape anymore, leads to lower consumer confidence. Profit expectations are being scaled back and weak economic data should make gold attractive as a safe haven. The significant economic slowdown can also be seen in the development of the stock markets, which disappoints investors.
The focus should be more on the tried-and-tested gold, which is an important component in hedging against risks. In terms of prices, a turnaround in the price of gold may also have occurred. After the price of the precious metal crashed to 1,780 U.S. dollars, a recovery to over 1,800 U.S. dollars began. Experts see here the chance that a final point behind the downward movement since June was set. In chart terms, the next hurdle for the gold price is at 1,820 U.S. dollars per ounce. If the price of the precious metal rises above this level, a recovery rally could start. Gold mining stocks are therefore coming into focus right now. For example, CanaGold or Chesapeake Gold.
CanaGold - https://www.youtube.com/watch?v=470uITYna_E - owns 100 percent of the prospective New Polaris gold project in British Columbia. Drilling returned up to a good 37 grams of gold per ton of rock.
Chesapeake Gold - https://www.youtube.com/watch?v=DHxF_-3tU1c - is focused on South and North America. The main project is the Metates property (gold, silver and zinc) in Durango, Mexico.
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