Positive outlook for the gold price

Gold prices may rise to $2,250 per ounce by 2024, according to David Soloman, CEO of Goldman Sachs. Caution is advised as the U.S. economy approaches a recession. The Fed’s slowing of the economy to counter inflation is to blame, he said. And in this recessionary environment, there is upside potential for gold, more so than downside potential. This is true, he said, despite the volatile year. According to Goldman Sachs, there is a 30 percent probability of a recession in the United States. As a result, there would be interest rate cuts down to zero by 2024, and the gold price would then rise to $2,250 per troy ounce. The probability of avoiding a recession would be about the same. Ten-year real interest rates would then rise higher to 1.7 percent. This would push the gold price down to 1,530 US dollars per ounce.

What would cause the gold price a lot of trouble would be an increasing risk of inflation and further interest rate hikes. But Goldman Sachs sees only a 20 percent probability of this. In the event of a recession with limited interest rate cuts, the gold price would settle at around $2,000 per ounce. Ultimately, the investment bank says, increased recession risks make for a rising risk profile for gold. A rise in the gold price is most likely, it said. Also, the strengthening of the U.S. dollar through policy is only a temporary way to fight inflation. Because it lowers the import costs within the USA. Since gold stocks should not be missing in any portfolio, a look at CanaGold Resources and at GoldMining would be worthwhile.

GoldMining – https://www.youtube.com/watch?v=wBhwyFLRSV8 – owns gold and gold-copper projects in North and South America. In addition, there is a large block of shares in Gold Royalty Corp.

CanaGold Resources has world-class properties in Nevada, USA and in British Columbia and thus significant gold resources. The New Polaris project in British Columbia is currently pleasing with very good drill results.

Latest corporate information and press releases from GoldMining (- https://www.resource-capital.ch/en/companies/goldmining-inc/ -).

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