Will the gold price reach the 2,000 US dollar mark again this year?
Frank Holmes of US Global Investors recently asked himself this question and answered it with a yes
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Frank Holmes goes even further and asks whether the gold price can still climb to a new all-time high in 2020. The CEO and Chief Investment Officer expects the price of gold to continue to rise, mainly due to global money printing. In the longer term, the gold expert even expects a price target of USD 4,000 per fine ounce of gold.
The reason, he said, is the unprecedented increase in money being made not only by the USA but also by the G20 countries. Investors who do not want to take risks are turning to gold. Gold is simply a cheap asset that has proven itself. The upward trend in the price of gold has not come about because the world has become more dangerous, but because the money supply is increasing so immensely.
As a result, the gold price must be at a high level, according to the gold experts. On top of this comes inflation. And the US dollar is constantly devaluing. If this continues, then the gold price should be at a high level at the end of the year. This means that shares and above all the gold price could then be higher than today. Controversial election results, the flu season combined with the second corona wave will do the rest and support the gold price.
So, let's take a quick look at promising gold companies like Aguila American Gold or Canarc Resources.
Canarc Resources - https://www.youtube.com/watch?v=eWhKJz9pVRI&t=1s -is focused on several gold properties in North America with significant gold resources. The main project is the formerly producing New Polaris gold project in British Columbia.
Aguila American Gold - https://www.youtube.com/watch?v=jkSdRzxTZ0s - searches for gold, silver and copper. Through a joint venture, the company has access to the Wusa Epithermal Gold Project in Oregon, covering 150,000 hectares of land. Three gold deposits have already been identified.
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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