The remaining months of 2024 could be turbulent

The price of gold broke through the USD 2,400 barrier for the first time in seven weeks. The latest inflation figures from the USA probably had an effect and provided fundamental impetus. Inflation has fallen and an interest rate cut could be on the horizon. The gold price could rise further if the US debt burden continues to rise at an alarming rate. The question also remains as to whether a new government in the US will change the Fed’s policy. The assassination attempt on Donald Trump will definitely fuel the election campaign.

Gold is the eternal safe haven, especially in uncertain times. And there are enough trouble spots and uncertainties. Central banks are relying on gold as a diversification element for the US dollar. Many, including China, India and Turkey, have recently set a minimum price for gold. Probably because there were outflows from exchange-traded ETFs. Although China paused after many months of increasing gold reserves in May and June, the country may have focused on buying domestic gold production. According to the World Gold Council, India has been particularly eager to buy gold. It is said to have bought more than it has for two years. Various experts, such as Schroder Investment Management and UBS Global Wealth Management, are expecting a turbulent second half of the year. And analysts at Citigroup expect that the supply of gold mines could be almost completely absorbed in the coming months due to rising investment demand. They therefore believe that a gold price of USD 2,700 to 3,000 per troy ounce is likely in 2025.

This also looks good for gold companies, such as OceanaGold – https://www.commodity-tv.com/ondemand/companies/profil/oceanagold-corp/ -, a successful producer. Its gold mines are located in the USA, the Philippines and New Zealand. OceanaGold also has strategic investments and holdings.

Karora Resources – https://www.commodity-tv.com/ondemand/companies/profil/karora-resources-inc/ – is successfully producing gold at two gold projects in Western Australia. Fortunately, cash operating costs have fallen, as nickel is also incurred in gold production.

Current company information and press releases from Karora Resources (- https://www.resource-capital.ch/en/companies/karora-resources-inc/ -) 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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