Is the gold price turning again?

There are definitely factors that can have a positive impact on the gold price. For example, gold jewelry consumption in the first six months of 2023 was higher than forecast, albeit slightly lower than year-on-year. But in the first half of 2022, gold jewelry demand was also particularly high, Metals Focus said in its latest annual gold market report. Demand for bars and coins is also strong in the United States. That’s because the banking crisis is still simmering. On the other hand, in 2022, gold prices fell, the U.S. dollar was strong and extremely low interest rates came to an end.

Yields on government bonds also rose in 2022. Nevertheless, the price of the precious metal, seen over the whole of 2022, was able to reach an average all-time level of $1,800. This is because demand from buyers (public sector, private individuals and institutional investors) was high. Gold lived up to its name as a safe haven, because there were enough crises and uncertainties.

As long as the Fed doesn’t get around to cutting interest rates, the gold price will still struggle, but the end of the line (of interest rate hikes) will be reached at some point. And so, Metals Focus analysts also expect continued stable demand for gold to support the price for the rest of the year. Risks and geopolitical dislocations continue to be present. And because gold can reduce portfolio risk, gold companies should also remain in focus. There’s Revival Gold and Osisko Development, for example.

Exploration and development of the Beartrack-Arnett gold property in Idaho is being worked on by Revival Gold – https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ -. There will be an updated mineral resource and preliminary feasibility study in a few weeks.

Osisko Development – https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/ – is active in Mexico, USA and Canada (Cariboo gold project in British Columbia, Tintic project in Utah, San Antonio gold project in Mexico). The company’s goal is to become a mid-tier gold producer.

Current corporate information and press releases from 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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