What could influence the gold price?

Looking at the statements of analysts, a strong gold price is expected for the end of the year, at least by most. Against a rapid price increase in the precious metal is an expected longer-term higher monetary policy stance by the Fed. Some analysts, such as Ole Hansen, Head of Commodity Strategy at Saxo Bank, are very optimistic for the gold price in the medium term. The main reason is that the Fed will have difficulties in pushing down inflation. Many also expect a weaker US dollar, which will have a favorable effect on the gold price. This is likely to be joined by the continued strong demand for gold from central banks. Turkey is particularly hungry for gold in this regard. Since Swiss records began, Turkey imported more than 58 tons of gold (a value of about $3.6 billion) from Switzerland in January, the most ever recorded in a single month. Previously, Turkey had never imported more than 34 tons of gold from Switzerland. This compares to just 11 tons of gold going to Turkey in 2021. In 2022, Turkey had purchased a total of 148 tons of gold, according to the World Gold Council. The inflation rate in Turkey was also immensely high in 2022, first 85 percent, then still 64 percent in December.

Various hedge fund managers also believe in the appreciation potential of gold. Inflation fears are persistent and new geopolitical upheavals are not far away. In addition, many countries are increasingly turning away from the U.S. dollar. As an alternative reserve currency to money, gold is the tried and tested means for central banks and investors and a good alternative to the US dollar. Gold shares could therefore also offer an alternative chance to bet on a rising gold price. There would be, for example, Osisko Development or Revival Gold.

Revival Gold - https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ - is looking after the revival of the Beartrack-Arnett gold project in Idaho. Drilling results are very good and mineralization is still open in all directions.

Osisko Development - https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/- owns the Cariboo gold project in Canada, the Tintic project in the USA and the San Antonio gold project in Mexico. The goal is to become a mid-tier gold producer.

Current corporate information and press releases from Osisko Development (- https://www.resource-capital.ch/en/companies/osisko-development-corp/ -).

In accordance with §34 of the German Securities Trading Act (WpHG), I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.

Disclaimer: The information provided does not constitute any form of recommendation or advice. Express reference is made to the risks involved in securities trading. No liability can be accepted for any damages arising from the use of this blog. I would like to point out that shares and especially warrant investments are generally associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make a mistake, especially with regard to figures and prices. The information contained herein has been obtained from sources believed to be reliable, but in no way claims to be accurate or complete. Due to judicial decisions the contents of linked external pages are to be answered for (so among other things regional court Hamburg, in the judgement of 12.05.1998 - 312 O 85/98), as long as no explicit dissociation from these takes place. Despite careful control of the contents, I do not assume any liability for the contents of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG applies additionally: https://www.resource-capital.ch/de/disclaimer-agb/.

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