Gold price may soon exceed 1,400 US dollars an ounce
Analyst Mike McGlone sees similarities in the current situation with 2002, when the last big gold boom began and the US dollar reached a 16-year high. The resistance at 1,400 US dollars should soon be broken, because if you remember 2002, the analyst comes to the conclusion that a strong US dollar is the last obstacle for gold.
It was about six years ago that the troy ounce of gold cost more than 1,400 US dollars. However, a few months ago it was still below 1,200 US dollars. And as soon as the strong US dollar disappears, there is nothing to stop the gold price from rising.
In 2002, the US dollar was extremely strong and the gold market declined. The FED's move into a less tight monetary policy will drive the gold price up, the analyst said. A currently strong US dollar and rising equity markets are still preventing this.
Since January, the Dow Jones Index and DAX have risen, and the price of gold has hardly moved. One reason lies in share buybacks, mainly by US companies, driven by Trump's tax reform. However, if conflicts between the major powers do not resolve and there is perhaps an unregulated Brexit, then gold is likely to rise very quickly in the favor of investors, especially as a longer-term investment.
So it is time to look at gold companies like Bluestone Resources and Treasury Metals. Bluestone Resources - https://www.commodity-tv.net/c/search_adv/?v=299040, well funded, is developing its Cerro Blanco Gold Project (and Mita Geothermal Project) in Guatemala. Up to 19.9 grams of gold and up to 281 grams of silver per tonne of rock were intersected during drilling. Production is estimated at an average of 146,000 ounces of gold per year for the first three years.
Treasury Metals - https://www.commodity-tv.net/c/search_adv/?v=299034 - owns 100% of the Goliath gold project in Ontario, which is expected to become one of Canada's next gold mines. The best infrastructure and gold mineralization to the surface, as well as gold mineralization already in the approval process, should make the project a success.
Aktuelle Unternehmensinformationen und Pressemeldungen von Bluestone Resources (https://www.resource-capital.ch/en/companies/bluestone-resources-inc.html) und von Treasury Metals (https://www.resource-capital.ch/en/companies/treasury-metals-inc.html).
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