Gold perhaps on the verge of a new record high

It is nothing new that in times of crisis the safe haven gold is strongly targeted. How far the journey will go is questionable. But there are other factors besides the war that could drive the gold price, such as U.S. interest rates or physical demand from Asia. According to chart technicians, gold could form one or two shoulders as part of a larger pattern. So, gold could become even more expensive. Especially given the U.S. government’s meddling in Ukraine, which has been ineffective. And whether or not the Fed raises rates again this year, another big move will lower rates and thus strengthen gold.

The current war and debt cycle is something special at the moment. There are already prophets of doom predicting the collapse of the U.S. dollar. This is probably exaggerated, but there are worldwide tendencies to at least weaken the dollar as a reserve currency. In the long term, every world reserve currency has been replaced at some point anyway. In the case of the dollar, this will certainly take some time. This will then lead to a world currency disorder, which will show gold as a profiteer. In any case, compared to October 2022, the price of gold is now several hundred dollars higher. And the gold price could be catapulted even higher, with a jump toward $2,040 per ounce possible. Good who is already invested in gold shares. Recommended candidates include Revival Gold or Sierra Madre Gold and Silver.

Revival Gold – https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ – is handling exploration and development of the Beartrack-Arnett property in Idaho. Good drill results (up to 11.7 grams of gold per ton of rock) are available.

In Mexico, Sierra Madre Gold and Silver – https://www.commodity-tv.com/ondemand/companies/profil/sierra-madre-gold-silver/ – has three prospective gold and silver projects. One of the mines is a permitted, previously producing underground mine.

Current corporate information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/en/companies/sierra-madre-gold-and-silver-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.

Disclaimer:

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