The gold price in 2021
A look at the latest forecasts of major banks is always interesting to see how the gold price is going to develop. Especially when we are in a downward trend, as we are right now. Some banks have changed their gold price forecasts. Banks that have adjusted their forecasts downwards often refer to the rising bond yields and the chart-technical background.
The experts at Credit Suisse, for example, see the price of gold rising to USD 2,200 in the current year. The Fed's monetary policy and real interest rates would have a particularly strong impact. Citigroup, on the other hand, has revised its expectations for the gold price downward from 2,100 to 1,950 U.S. dollars. Goldman Sachs has also lowered its estimate from 2,300 to 2,000 U.S. dollars in 2021, although the price of gold could still rise if higher real interest rates are fully priced in. The Dutch bank ABN Amro sees the gold price averaging 1,771 U.S. dollars in 2021. The reason is the still low interest rate level, which will not rise so quickly in the foreseeable future, even if the Corona pandemic is under control.
Although the lower gold price in recent weeks seems to indicate a change in investor sentiment, also seen in the outflows from gold ETFs, at the current price could come to a strengthening demand from Asian investors. This would put the gold price back in the light it deserves. There are also investments in gold companies like Tarachi Gold or Ridgeline Minerals.
Tarachi Gold - https://www.youtube.com/watch?v=-6zBl9eErVQ - holds concessions in Mexico, approximately in the Mulatos Gold Belt, over 2,500 meters of land. Recent drilling has returned up to 11.9 grams of gold per ton of rock.
Ridgeline Minerals - https://www.youtube.com/watch?v=KPYdmh9mod8 - has four promising projects in its portfolio in Nevada. These include the high-grade Selena and Swift projects.
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