Macquarie Bank is betting on a new gold price peak soon

Customs disputes and new geopolitical risks, such as the US attacks on the Houthi rebels in Yemen, are boosting the price of gold. A combination that should make gold investors happy. Trade wars are intensifying – the US recently had a dispute with Canada over tariffs – and the war in Ukraine is not yet over. Gold ETFs also appear to be popular at the moment. The largest, the SPDR Gold Shares, grew by twelve tons of gold last week. Gold as a safe haven is more popular than ever in view of the various disputes. And many experts in the field are still expecting the issue of customs disputes to escalate. This is where the stability of gold is in demand.

The new all-time high is 3,005 US dollars per troy ounce. From a technical perspective, the next target should be USD 3,035, with a medium-term price target of USD 3,012. If these two targets are overcome without a correction, a price of more than USD 3,100 per ounce of gold would be possible. It is clear that corrections are also possible, but the current gold euphoria actually speaks against this. There is currently no end in sight to the upward trend, which is probably what drove the Australian bankers at Macquarie to issue their new gold price forecast. Gold stands for security, wealth and it is the rock in turbulent times like these. In addition to physical gold, investors should not forget the stocks of the companies that own the valuable commodity in the ground

Skeena Gold & Silver – https://www.commodity-tv.com/ondemand/companies/profil/skeena-gold-silver-ltd/ – is developing the past-producing Eskay Creek gold-silver project in British Columbia’s Golden Triangle. The company is also focusing on reopening the Snip projects.

In North and South America (Canada, USA, Brazil, Colombia and Peru), GoldMining – https://www.commodity-tv.com/ondemand/companies/profil/goldmining-inc/ – owns gold and copper in promising resource-stage projects. The portfolio also includes shares in Gold Royalty, U.S. GoldMining and NevGold Corp.

Current company information and press releases from GoldMining (- https://www.resource-capital.ch/en/companies/goldmining-inc/ -) and Skeena Gold & Silver (- https://www.resource-capital.ch/en/companies/skeena-resources-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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