Gold price - will it continue to go up or will there be a correction?

Since the beginning of 2024, the price of the precious metal has risen by more than 22%. If the chart technicians are to be believed, there could be a consolidation at around USD 2,465 per ounce. This is the upper limit of the consolidation phase in July, which the gold price then overcame. A price rally to USD 2,710 per ounce is now possible, but a significant correction to around USD 2,365 per ounce is also possible. An upward trend would then probably resume. An even greater correction phase is unlikely at present. Although the price of gold is high, many gold stocks have not yet been able to keep up with the rise. There are many excellent values at historically low valuations. This offers investors an exceptional opportunity to make profits. This is because gold mining shares not only offer the opportunity to hedge, but also the chance to participate in the upward trend of the gold price with leverage. The following explanation could explain why there is such a discrepancy between the gold price and mining stocks. The yield on ten-year government bonds rose from 2021 to October 2023, prompting many to sell (non-interest-bearing) gold. ETFs lost many millions of ounces of gold by May 2024. However, selling gold fails to recognize the long-term potential of these assets. Investor sentiment towards gold stocks is probably not the best at the moment, but as history has shown, this is perhaps the best time to invest. The sell-off in gold ETFs is now over, so gold and gold stocks could soon be on the rise. Of course, getting the timing right is not easy, but with solid gold companies like Calibre Mining or Revival Gold, investors should not go wrong. 

Calibre Mining - https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ - is a medium-sized, debt-free gold producer. The mines are located in Nicaragua and the USA. 

Revival Gold - https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ - focuses on mine development in the west of the USA. The company is pursuing three projects, including the Mercur gold project in Utah and the Beartrack-Arnett gold project in Idaho.

Current company information and press releases from Calibre Mining (https://www.resource-capital.ch/en/companies/calibre-mining-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.
 
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