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Banks raise gold price forecasts


New highs are possible for the gold price in 2023, according to some important banks.

Gold fans and gold mine operators are rejoicing, and more positive assessments are now making the rounds. The experts at Credit Suisse, for example, forecast a gold price of 2,300 US dollars or more and see good chances for a long-term and significant breakout to the upside. Analysts at Bank of America also see the price of the precious metal at more than US$2,000 per ounce. Of course, there are also some voices from the banking sector that see gold priced well below 2,000 U.S. dollars per ounce, such as the Royal Bank of Canada.

Those who believe in a strong gold price may want to stock up on high-quality gold mining stocks right now. A long-term decision that can provide lucrativeness if investors are in time for the upswing in the mining sector. That the price of gold responds positively to declining inflation and lower consumer costs has been seen recently. The breakout of the gold price to new all-time highs is always an exciting thing. In 2009, gold had broken out above the psychologically important US$1,000 mark. After that, the gold price had almost doubled by the end of 2011. The US$2,000 mark, which is now being targeted, should then represent a new bottom. Gold stocks have often been shunned over the past two years, but now could be their time. Currently, GDX and GDXJ (junior gold miners), two mining ETFs, have broken out above their formerly strong resistance levels. Promising gold mining candidates include Victoria Gold and Chesapeake Gold.

Chesapeake Gold\-s – https://www.youtube.com/watch?v=dinUyzlk36E – Metates property in Durango, Mexico is among the largest gold and silver deposits in the world. The total resource is said to be over 20 million ounces of gold and over 550 million ounces of silver.

One successful producer is Victoria Gold – https://www.commodity-tv.com/play/zuri-invest-mining-panel-with-osisko-gold-royalties-victoria-gold-and-mag-silver/ – with its Eagle Gold Mine in the Yukon. Further exploration potential exists.

Latest corporate information and press releases from Victoria Gold (- https://www.resource-capital.ch/en/companies/victoria-gold-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.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 – 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/

Posted by on 19. January 2023. Filed under Internet, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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