Gold price forecasts

Inflation momentum is weakening, and the Fed is expected to make smaller interest rate hikes and soon end its rate hikes. This strengthens the gold price. In addition, a weak U.S. dollar shows effect. Bank of America is very positive about the gold price. Economic concerns remain as well as inflation at a high level, therefore, it could come to a two-year gold price rally. This, as long as the price of the precious metal does not fall below 1,938 U.S. dollars. Then gold prices are possible for the time being of 2,100, then up to over 2,500 US dollar per fine ounce. The major Swiss bank UBS believes that a weak U.S. dollar in particular is crucial for the gold price. If the US dollar is weak, the gold price normally rises. And interest rate cuts by the Fed are likely to be accompanied by further weakness in the U.S. dollar. UBS therefore forecasts a price of 2,100 U.S. dollars per ounce of gold for the end of 2023 and 2,200 U.S. dollars per ounce by March 2024.

Goldman Sachs also expects a strong gold price. The bank sets a twelve-month target of US$2,050 per ounce of gold. ETF inflows are expected to ensure this. And gold is still the best hedge against financial risks. From Austria, Erste Group reports on the price of the precious metal and focuses on the real interest rate. This will also be negative in the second half of 2023, which in turn plays into the hands of the gold price. For the second quarter of 2023, Erste Group therefore sees a price of approximately USD 2,080 for gold. If you want to bet on gold now, and every investor should do so to a certain extent with his investment assets, then it is worth taking a look at Aurania Resources or Condor Gold.

Aurania Resources – https://www.commodity-tv.com/play/aurania-resources-first-hole-drilled-at-tatasham-geophysical-surveys-to-follow/ – has gold and copper at its The Lost Cities project in Ecuador. The exploration program for 2023 is under development.

Condor Gold – https://www.commodity-tv.com/play/condor-gold-has-3-formal-interested-parties-and-two-non-binding-offers-for-the-la-india-gold-deposit/ – has a bankable feasibility study for its La India gold project in Nicaragua. Sales negotiations for the assets are currently underway.

Current corporate information and press releases from Aurania Resources (- https://www.resource-capital.ch/en/companies/aurania-resources-ltd/ -).

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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