Gold remains attractive
Gold has broken out of a six-year consolidation phase and has climbed numerous resistance levels. The long-term outlook for the gold price is still good
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Even if the counterparts in the trade dispute are approaching and the Brexit is going well, the safe haven of gold should continue to attract investors. Because the central banks are still in an easing mode. Geopolitical risks also remain high. And investor interest in this precious metal has risen steadily in recent months and should not come to a standstill so quickly.
According to the World Gold Council, global gold-backed ETFs and similar products recorded inflows everywhere in September. Collective gold reserves have risen to 2,808 tonnes, the highest level of all time. This is even more than at the end of 2012, when gold cost around 1,700 US dollars an ounce.
From a technical perspective, longer-term considerations such as the Relative Strength Index (RSI) show that overbought positions are slowly being reduced. The RSI is one of the most frequently used indicators in technical analysis. It is used to determine future trends and movements. However, the reduction takes place through time and not through downward price movements. This is seen as a sign that the price of gold remains close to its high. A further long-term upward trend would therefore not be surprising.
So since the long-term momentum for gold is optimistic, a well-balanced portfolio should not exist without stocks of gold companies. For example White Gold - https://www.youtube.com/watch?v=xMUHMj6nLj4=5s - or US Gold could be considered.
White Gold (http://whitegoldcorp.ca/signup ) has a particularly prospective area in the Yukon, more than 439,000 hectares of land in the Whitegold District. At least one million ounces of gold mineral resource has already been identified. Recent probe samples revealed 78, 113 and 605 grams of gold per ton of rock.
US Gold - https://www.youtube.com/watch?v=xpE2IohL3kE=4s - specializes in exploration projects in Nevada (Keystone and Maggie Creek projects, Gold Bar North) in the Carlin Trend and in Wyoming (Copper King).
Latest company information and press releases from White Gold (
www.resource-capital.ch/de/unternehmen/white-gold-corp/)
and US Gold (www.resource-capital.ch/de/unternehmen/us-gold-corp/).
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