Gold price still treading water
The all-time high in the gold price, which was seen in August 2020 at USD 2,075 per ounce, was now a while ago. The gold price has been moving sideways for months and investors tend to be disappointed rather than enthusiastic. The price has yet to make a major breakout to the upside. A price of around USD 1,675 per troy ounce has already been seen as support several times, for example during the small price crash in August 2021, when the gold price turned upwards again.
September also failed to bring the hoped-for recovery in the price of gold. At the end of the month, the gold price closed at USD 1,752 per ounce. This was a minus of 3.5 per cent compared to August. Most recently, a gold price around US$1,833 seemed to raise hopes, but it did not continue higher. At least buying interest seems to pick up from around US$1,750 an ounce. A subsequent buying wave could finally bring the longed-for breakout from the price sideways movement.
In recent months, the performance of mining stocks has largely mirrored the price trends in gold. The merger between Agnico Eagle and Kirkland Lake Gold could contribute to a new positive trend. And when the gold price rises again, those who invested in time, for example in Gold Terra Resource or Ximen Mining, will be happy. Gold Terra Resource - https://www.youtube.com/watch?v=qb84jKh6DTc - is currently happy about very good drill results on its Yellowknife City gold project in the Northwest Territories in Canada (about 11 grams of gold per ton of rock). Ximen Mining owns several gold projects and a silver project in British Columbia.
Current corporate information and press releases from Gold Terra Resource (https://www.resource-capital.ch/en/companies/gold-terra-resource-corp/).
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