Target price 5,500 US dollars per fine ounce of gold
The investment bank Jefferies Group recently stated that the gold price could reach this level.
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Gold continues to be a hedge against inflation and stagnation, according to the investment bank. The optimism also stems from the fact that central banks are increasingly discovering gold. The risk of stagnation comes from rising inflation, rising energy prices, slower economic growth due to disruptions in supply chains. The global economy is slow to recover from the pandemic, there are unfilled jobs. Therefore, we are already advised to start looking for Christmas presents early, as shortages of various goods are looming.
There was already stagnation in the 1970s, when the price of gold rose from USD 100 to USD 650 per ounce, an increase of around 550 percent in just over a year. In the current situation, there could be another big price increase. If the price of gold is going to move up, it may well do so violently. The prices of almost everything have gone up in the last few years, and the price of gold hasn't really kept up. The Hulbert Gold Newsletter Sentiment Index (HGNSI), for example, also speaks for a possible uptrend. It is currently as low as it was in March 2020, when the gold price was around USD 1,200 per ounce. After that, it nearly doubled. The HGNSI reflects the average recommended gold exposure of a group of gold timers. In short, the HGNSI measures sentiment in the gold market.
In order to be part of the next upswing in the gold price, an investment in gold shares should be considered.
This is where Skeena Resources - https://www.youtube.com/watch?v=AoDWe5aJarQ - would come into consideration. The company is working on reopening the Eskay Creek (gold and silver) and Snip gold-silver mines in British Columbia.
Revival Gold - https://www.youtube.com/watch?v=XkYjo1T4diE - has been very successful in drilling at its Beartrack-Arnett gold project. This is the largest formerly producing gold mine in Idaho.
Current corporate information and press releases from Skeena Resources (
www.resource-capital.ch/en/companies/skeena-resources-ltd/).
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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