Gold with enormous upside potential

The price of a troy ounce of gold rose by around 150 US dollars in March. April could bring further upward potential and perhaps new record highs. It remains to be seen whether the production cuts just announced by the oil-producing countries will lead to new fears of interest rate hikes and thus not be conducive to the rise in the gold price. In any case, the positive aspects for the gold price are likely to outweigh the negative ones. The banking crisis has shown that even easing banking fears can hardly harm the strength of the gold price. The gradual pricing in of interest rate cuts also argues for a continued high gold price. Inflation, though still high, is pointing downward. This, too, does not seem to be hurting the price of the precious metal. And the oil price, which is rising again, could well fuel inflation again in the medium term. Should data come in the near future that are weaker than expected, this can only increase the probability of an interest rate cut in the current year.

According to TD Securities‘ forecasts, the price of the precious metal is expected to reach US$1,975 in the second quarter, US$2,050 in the third quarter and US$2,100 in the fourth quarter. Some market analysts expect the price of gold to range from US$2,500 to as high as US$4,000. Some assume 1,900 U.S. dollars per ounce. A possible recession and continued geopolitical squabbles may support the price. Gold, as well as the stocks of gold companies, is perhaps a must for every investor right now. Companies such as Caledonia Mining or Fury Gold Mines are recommended.

Fury Gold Mines – https://www.commodity-tv.com/play/fury-gold-mines-well-cashed-up-after-recent-financing-drill-program-for-2023-to-be-announced-soon/ – has three properties in its portfolio in Quebec and in Nunavut. Excellent drill results have already been received. Financially well positioned, the company has several million ounces of gold in the projects.

Caledonia Mining – https://www.commodity-tv.com/ondemand/companies/profil/caledonia-mining-corporation-plc/ – is producing successfully at its Blanket mine in Zimbabwe and paying dividends.

Current corporate information and press releases from Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-mining-corp/ -) and Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-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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