Global investment bank raises forecast for gold price

"Go for gold", this continues to apply, according to the investment bank. According to Goldman Sachs, the main reason for the rising gold price is the high demand from central banks. At the same time, the holdings of exchange-traded funds are increasing. And if customs concerns and political uncertainties remain as serious as they are now, a price of USD 3,300 by the end of the year would also be possible. Previously, central banks were expected to buy an average of 41 tons of gold per month. However, 50 tons per month is more realistic. Long-term gold investments will continue to provide a strong hedge in the future, even if prices fall. It is the immense US debt, inflation fears and concerns about fiscal risks that are pushing investors into gold. And should political uncertainties intensify, gold could rise in value even further.

Economic tensions exist in many economies and high inflation rates are still having an impact in some cases. Central banks are now lowering interest rates in small steps, which is positive for the development of the gold price, as this reduces the opportunity costs of holding gold. Gold investments should therefore still make sense now, especially for the Stocks of gold companies. Some of them have already risen somewhat with the increase in the gold price, but there is still plenty of room for improvement. This applies, for example, to Miata Metals and Skeena Gold & Silver, two very well positioned companies.

Miata Metals - https://www.commodity-tv.com/ondemand/companies/profil/miata-metals-corp/ - is responsible for the Sela Creek gold project in Suriname and the Nassau gold project in Suriname. The company has its eye on further investment opportunities.

Skeena Gold & Silver - https://www.commodity-tv.com/ondemand/companies/profil/skeena-gold-silver-ltd/ - is developing the Eskay Creek gold-silver project in British Columbia's Golden Triangle, a world-class project. The silver by-product is expected to outperform even primary silver mines. 

Current company information and press releases from Miata Metals (- https://www.resource-capital.ch/en/companies/miata-metals-corp/ -) and Skeena Gold & Silver (- https://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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