Gold fans should be disappointed at the moment, because the price is currently weakening. Good US economic data weighed on the price of the precious metal. In addition, there is a firm US dollar and also a rise in bond yields. A reduction in the Fed’s bond purchases is widely expected. Until that happens, the price of gold is unlikely to go up significantly. The situation will be different if Fed Chairman Powell sends signals that interest rate hikes will be very slow. Because then gold could rise in price.

Chart-wise, the gold price has held exactly where it needed to on the downside to avoid breaking important support. Now there is a chance to form and complete a reversal formation in the form of an inverted shoulder-head-shoulder (SHS) formation. A renewed rise could then lead to the old highs. In this scenario, gold company stocks would do very well. Overall, the gold price is relatively stable, and the global economy is growing again. For example, China’s demand for gold jewellery has recovered, which is an important market.

Gold investments and also investments in gold mining stocks may offer great opportunities right now. Gold, by the way, means something like "shining dawn" or "sunrise" in ancient Latin. And investors could experience this sunrise now if they bet on promising gold mining stocks. There’s Fury Gold Mines and Karora Resources, for example.

Fury Gold Mines – https://www.youtube.com/watch?v=I8ia0H8gjmA – has several million ounces of gold in the ground. This in its projects in Quebec, Nunavut and British Columbia.

Karora Resources – https://www.youtube.com/watch?v=N0FElXWa4Nk – gets the gold from its projects in Western Australia Beta Hunt and Higginsville.

Latest corporate information and press releases from Fury Gold Mines (https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/) and Karora Resources (- https://www.resource-capital.ch/en/companies/karora-resources-inc/ -).

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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