Gold is and remains an emotional topic

There are many reasons for a higher gold price, but we are still waiting for the price breakout to come. Besides pandemic, war, market crash in almost all asset classes, there is also the threat of famine in many parts of the world. All-time highs in the gold price should therefore not be long in coming. Gold has fulfilled its role as a safe haven quite well in the past two years. A few months ago, a troy ounce of gold cost around 2,000 US dollars. Now the price of the precious metal is once again in a kind of wait-and-see position. What is still missing to finally drive the gold price higher is hard to say. Gold has outperformed most commodities (with the exception of oil and gas) and even the S&P 500.

Rising U.S. interest rates and the associated strength of the dollar tend to create headwinds. The performance of gold shares has not been so glamorous compared to precious metals and other shares. On the other hand, investors‘ appetite should be directed towards gold right now, in order to be already invested when the price of gold rises, and this at favorable prices. If you look at the central banks, you can see that they are now increasingly betting on gold. According to the World Gold Council, they bought a total of 19.4 tons of gold in April and 35 tons in May. Turkey, Uzbekistan, Kazakhstan, Qatar and India were particularly keen buyers. In June, for example, Iraq’s central bank alone bought 34 tons of gold. Private investors could now position themselves in gold mining stocks, such as GCM Mining or Revival Gold.

GCM Mining – https://www.youtube.com/watch?v=qwQHXVfmBy4 – is successfully producing gold at the Segovia properties in Colombia, which have been producing gold for 150 years. In addition, there is the Toroparu project in Guyana, which is working towards production in the near future.

Revival Gold – https://www.youtube.com/watch?v=d24jQVrtkKE – is also looking to grow. The company owns the formerly producing Beartrack-Arnett property in Idaho.

Current corporate information and press releases from GCM Mining (- https://www.resource-capital.ch/en/companies/gcm-mining-corp/ -).

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