Gold price – Quo vadis

For a good four weeks, the price of the precious metal has been going down. One of the causes is the ETF investors who are turning their backs on gold. Even the falling inflation figures from the U.S. do not help. However, this speaks for the fact that the interest rate turnaround comes closer. Interest rate expectations will increase sooner or later. Then the way is paved for the gold price upward again. Strong this year is the gold demand from the jewelry sector. According to the World Gold Council, the Chinese in particular were eager to buy. In the second quarter, jewelry demand went up 28 percent year-on-year. Chinese citizens also made strong purchases of bars and coins, with an increase of 30 percent. Turks, who have been hit by inflation and currency devaluation, made even bigger purchases. In India and the USA, demand for jewelry fell somewhat, while in Europe it remained more or less unchanged. Coins, on the other hand, were not the best sellers in Europe and India. On the whole, the picture is mixed.

But when the central banks start buying more gold again and the interest rate turnaround comes, gold should shine again. This year, by the way, the Peoples Bank of China, the Chinese central bank, has already bought more than 100 tons of gold. With a general weakening of confidence in the U.S. dollar, many central banks should focus more on gold.

In July, Turkey, the Czech Republic and Poland were among the gold buyers. If there are favorable opportunities for private investors now, they should look to well-positioned gold companies such as U.S. GoldMining – https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ – or Chesapeake Gold – https://www.commodity-tv.com/ondemand/companies/profil/chesapeake-gold-corp/ -. Chesapeake Gold handles discovery, acquisition and development of large gold-silver properties in North and South America. Its prospective flagship Metates project in Durango contains gold, silver and zinc.

U.S. GoldMining, which recently went public, has just begun exploration work in Alaska on its prospective Whistler project (gold and copper).

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

In accordance with §34 of the German Securities Trading Act (WpHG), I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.

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