The gold price continues to develop well

After the pandemic, the annual average gold price was around USD 1,807 per ounce. Looking at the five-year average before the pandemic, the gold price averaged around USD 1,267. At the end of April 2023, the price of the precious metal was at its highest level in 13 months. Today, interest in gold is extremely high. This can be seen, for example, in the Google searches "how to buy gold" in the United States. There was similar interest in gold in 2011, when the price of the precious metal rose above $1,900 per ounce. Today, economic uncertainties are great, and so gold is increasingly in the focus of investors. Central banks are putting the brakes on the economy to fight inflation. The current rising interest rates increase the likelihood of a recession. Because higher interest rates are not so conducive to the price of gold, it is now stuck at a high level. Selling gold investments does not seem to be an option right now. So those who are invested are happy.

So gold can wait at the high level until the Fed lowers interest rates, ends the tightening cycle. In the wake of the pandemic, central banks loosened, now tightened aggressively, this drives the gold price. In commodities in general, economic growth is depressing prices, but gold scores points for being a safe haven and is rightly attracting investors. And as a result of the intended move away from the U.S. dollar, the central banks are making strong inroads into gold. Today, gold promises more security than the US dollar.

Investors could look at Caledonia Mining – https://www.commodity-tv.com/ondemand/companies/profil/caledonia-mining-corporation-plc/ -, a successful gold producer. The Blanket gold mine in Zimbabwe produced about 16,000 ounces of gold in the first quarter of 2023. Production is expected to grow to 75,000 to 80,000 ounces of gold by the end of the year.

OceanaGold – https://www.commodity-tv.com/ondemand/companies/profil/oceanagold-corp/ – is also already producing and owns mines in New Zealand, the USA and the Philippines.

Current corporate information and press releases from Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-mining-corp/ -) and OceanaGold (- https://www.resource-capital.ch/en/companies/oceanagold-corp/ -).

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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