The price of gold has been rising steeply since mid-December

The upward trend in the price of gold that began in December has overcome every all-time high.

Chart technicians are forecasting a further breakout in the gold price as long as gold costs more than USD 2,815 per troy ounce. If the price of the precious metal breaks out above USD 2,885, a rise to USD 2,925 per ounce would also be possible. The price is currently trading at around 2,861 US dollars. One reason why gold is such a popular safe haven is the fear of a trade war between China and the US. On the other hand, there is also the fear of import duties on the precious metal.

In December, 64 tons of gold were delivered to the USA from Switzerland alone. The trend of gold accumulation in the USA picked up speed in January. Many analysts see the price of gold rising to the magical USD 3,000 mark in the near future and many are even predicting a multi-year bull market. Uncertainties and the high demand from investors and central banks should continue to have an effect. From a technical perspective, the price potential should be sufficient to set a course for the 3,000 mark, according to chart technicians. The interest rate environment is still favourable for gold, interest rates will stabilize and whether the end of interest rate cuts in 2025 will harm the gold price, as some suspect, remains to be seen. It is more likely that gold will have established itself as a safe and sought-after investment by then.

If the gold price takes a breather after reaching the USD 3,000 mark, this will not change the good fundamental data. In any case, central banks and private investors are pleased that their gold treasures are increasing in value. Mining companies with gold in their projects are also benefiting from the rise in the gold price. Calibre Mining and Miata Metals, for example

Calibre Mining – https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ – is a leading mid-tier gold producer active in North, Central and South America. For the fourth year in a row, the company has met the requirements of the Word Gold Council.

Miata Metals – https://www.commodity-tv.com/ondemand/companies/profil/miata-metals-corp/ – manages the Sela Creek Gold Project in Suriname, the Nassau Gold Project in Suriname and the Cabin Lake Property in British Columbia.

Current company information and press releases from Miata Metals (- https://www.resource-capital.ch/en/companies/miata-metals-corp/ -) and Calibre Mining (- https://www.resource-capital.ch/en/companies/calibre-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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