When will the new all-time high in the gold price come?

If the price of the precious metal continues to rise, then it could quickly go in the direction of 2,100 U.S. dollars and more. If it goes in the other direction, a correction to 1,998 U.S. dollars per ounce would be expected. But it does not look like that. What would still do the gold price good would now be a growing interest of ETF investors. Although ETFs have recorded inflows in March and April, these are not yet particularly pronounced. In fact, the approaching end of the rate hike cycle should have a greater impact. But that may be coming. In any case, gold purchases in the OTC market have increased significantly. Over-the-counter trading refers to off-exchange trading, not traditional trading on the stock exchange. Forex is one of the best-known OTC markets. Instead of exchanges, a network of banks is used for purchases and sales.

Physical demand for bars and coins was strong in the first quarter of 2023. China, Turkey and the USA stood out in particular. The USA recorded the fourth-best quarter since records began. More coins crossed the counter than the last time 25 years ago. High inflation in Turkey has given gold great appeal. In this country, demand for physical gold collapsed to about half of what it was in the first quarter of 2022. It probably worked the high gold price and the increased real interest rates, so suspects the World Gold Council, but assumes only a short-term weakness in demand in Germany. Good who is already invested before the new all-time high in the gold price, for example in Osisko Development or Skeena Resources.

Osisko Development – https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/ – has projects in Mexico and Canada in its portfolio. The focus is on high-quality, previously producing properties.

Skeena Resources – https://www.commodity-tv.com/ondemand/companies/profil/skeena-resources-ltd/ – owns the (formerly producing) Eskay Creek gold mine in British Columbia as well as the Snip gold mine there. The exploration team recently won an award for its work at Eskay Creek.

Current corporate information and press releases from Skeena Resources (- https://www.resource-capital.ch/en/companies/skeena-resources-ltd/ -) and Osisko Development (- https://www.resource-capital.ch/en/companies/osisko-development-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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