According to a survey, the mood among Wall Street analysts is slightly optimistic for the near term, after being rather pessimistic for the previous two weeks. After all, the gold price has left behind a three-week losing streak. The Fed’s stance is still unclear at the moment, keeping many investors away from gold investments. But once the Fed declares its tightening cycle over, gold can again approach the US$2,000 mark. And US$2,000 should be the breakout level. Weaker than expected unemployment data in the U.S. argues for a quick end to the tightening cycle.

Whether the Fed raises interest rates once or twice more, it remains exciting in any case and then at some point the time is ripe for a breakout in the gold price. Private investors currently expressed in the survey that the gold price in the near future tends to go up. After all, the price of the precious metal was able to hold its ground despite the rise in ten-year bond yields above four percent.

Especially at a gold price of 2,008 U.S. dollars, there should be a buying wave and new all-time highs on the plan. In the longer term, USD 2,500 per troy ounce would then also be possible. In early 2024, when U.S. GDP declines and there is a simultaneous acceleration in China and Euroland, then interest rates and the U.S. dollar should come under pressure. If the price of gold rises then, the gold companies’ projects will also be worth more and so will the companies themselves. Recommended gold companies in which an investment seems promising are, for example, Maple Gold Mines or Tudor Gold.

Maple Gold Mines – https://www.commodity-tv.com/ondemand/companies/profil/maple-gold-mines-ltd/ -, together with its partner Agnico Eagle Mines, takes care of the Joutel and Douay gold projects in Quebec. They are located in the excellent Abitibi greenstone belt, score with very good drill results and have a very good infrastructure.

Tudor Gold – https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/ – owns the Treaty Creek Gold Project (gold, silver, copper) in British Columbia. This includes the prospective Goldstorm deposit. A large diamond drilling program is underway for 2023.

Current corporate information and press releases from Maple Gold Mines (- https://www.resource-capital.ch/en/companies/maple-gold-mines-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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