Gold stands for wealth and is a globally traded commodity

Gold was already being mined in ancient Egypt and used as a medium of exchange, among other things. Today, the gold market is a global gold market. The London Bullion Market Association is responsible for setting the daily gold price. Investors can participate in the gold market without owning physical gold. The development of currencies, political instability and economic factors as well as investor demand influence the price of gold.

In India and China, the middle class is growing and with it the demand for gold jewelry and gold products. Not to be forgotten are the central banks, which are hedging heavily with gold. Diversification and hedging against currency fluctuations are generating demand for the precious metal. Physical gold must be stored securely, and this is associated with costs. This is where the values of gold companies that hold the valuable commodity in their projects come in.

If the price of gold rises, the gold in the ground also becomes more valuable. Chart technicians are currently assuming that a new upward trend will emerge if the gold price rises above USD 2,037 per ounce. The price could then rise to 2,076 US dollars. It is also possible that the price of gold could fall below USD 1,998. This would probably result in a wave of selling and a renewed price increase. Whatever the case, a few gold stocks should definitely be in your portfolio. And if the price falls, this should be seen as an entry opportunity. Most analysts agree that we will see higher gold prices, perhaps a new all-time high, in the course of the year.

Recommended gold companies include Caledonia Mining – https://www.commodity-tv.com/ondemand/companies/profil/caledonia-mining-corporation-plc/ -, for example. Last year, the company produced around 75,000 ounces of gold at its Blanket gold mine in Zimbabwe. New drilling results indicate a larger total resource.

Calibre Mining – https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ -, which is active in North and South America, is also successfully producing gold. In 2023, the company achieved more than 280,000 ounces of gold production.

Current company information and press releases from Calibre Mining (- https://www.resource-capital.ch/en/companies/calibre-mining-corp/ -) and Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-mining-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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