Gold – hopefully not miss anything

The expert voices that see new record highs for the gold price are increasing. This is because hopes of a Fed pause, and fears of bank turbulence are making gold more attractive than ever as a safe haven. Gold futures, for example, rose to their highest level of the year. The banking crisis is bigger than it has been since 2008. There could be six banks left in the U.S. in need of support. Gold-based assets are also back in high demand. And according to the World Gold Council and estimates from Metals Focus, central banks have provided a record level of gold purchases in 2022.

According to the latest statements by Fed Chairman Powell, there will probably be another interest rate hike of 0.25 percent in May. Even though Powell sees interest rate cuts "not in the base scenario" this year, the gold price held near the US$2,000 mark. The bullish uptrend in the precious metal remained in place. Some estimate the final interest rate at 5.25 percent, others as high as 5.75 percent. Others see signs in the bond market that there will be interest rate cuts, perhaps as early as June, which would be favorable for the gold price. Even if there should now be profit-taking in gold, the majority of analysts do not foresee a trend reversal, but rather an intact overall trend. In the process, the gold price should rise above 2,000 U.S. dollars per troy ounce. Gold companies such as Gold Terra Resource or Chesapeake Gold should be pleased with this development.

In the Northwest Territories in the Yellowknife Greenstone Belt, Gold Terra Resource – https://www.commodity-tv.com/ondemand/companies/profil/gold-terra-resource-corp/ – owns the Yellowknife City Project.

Chesapeake Gold – https://www.commodity-tv.com/play/mining-newsflash-with-chesapeake-gold-us-critical-metals-and-tinone-resources/ – is working in Mexico on its 100 percent owned prospective Metates property.

Latest corporate information and press releases from Gold Terra Resource (- https://www.resource-capital.ch/en/companies/gold-terra-resource-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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