Gold price explosion

The Fed left the key interest rate unchanged for the third time. The Fed believes that three rate cuts are possible in 2024. More and more people now believe that the first rate cut could take place as early as next March. Four rate cuts in 2025 and three in 2026 also seem possible. These statements caused the gold price to explode. At the same time, government bond yields and the US dollar fell. This has boosted the gold price. If an ounce of gold costs more than USD 2,100 on 29 December 2023, a sharp price increase in the new year is very likely. This is because the last resistance line would have been broken. Gold prices are nearly at all-time highs, while gold shares are (still) very cheap. This should attract investors.

The prospects that the gold price will continue to soar are therefore good. This means that the prospects for investors entering the market now, particularly in gold mining stocks, are also very good. Mind you, this does not apply to short-term speculation but, as always with gold, to longer-term decisions. Chart technicians are looking in particular at resistance zones at USD 2,075 and USD 2,146 per ounce. There will continue to be crises and uncertainties as well as tensions between major countries such as the USA and China. Gold shines as a crisis metal, stands for value retention and has always been a worthwhile investment. Among the gold companies, Revival Gold and Tudor Gold stand out.

Revival Gold – https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ – scores with good drill results at its Beartrack-Arnett property in Idaho (up to 11.7 grams of gold per ton of rock). This is the largest past-producing gold mine there.

Tudor Gold – https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/ – owns the promising Treaty Creek Gold Project in British Columbia’s Golden Triangle.

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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