Gold and silver prices soar

On Thursday evening last week, the price of gold briefly rose to over US$4,300 per troy ounce. In 15 trading days, the price of gold has recently managed to reach a new high eleven times. In addition to the well-known price drivers such as tensions between the US and China, fears of a possible banking crisis are now also coming into play. Two US regional banks reported significant losses, adding to the potential for a new crisis.

And crises are known to drive up gold and silver prices. Add to this the renewed expectations of US interest rate cuts, and further price increases should come as no surprise. It was Fed Chairman Jerome Powell who spoke last week of growing problems for the US labor market. This gave a boost to expectations of interest rate cuts. Precious metals should therefore be well supported in terms of price. Incidentally, the gold price achieved its highest annual gain in 1979, at 127 percent.

In the current year, the price of the precious metal has risen by around 67 percent. Last week, gold futures rose by approximately 5.6 percent. The NYSE Arca Gold Miners Index, which tracks the performance of gold stocks, rose by 2.91 percent. Although the train has already left the station, it could still be worthwhile to jump on board and invest in gold and silver. This is especially true when short-term setbacks offer opportunities to get in. In the long term, gold mines still have potential for growth.

Miata Metals – https://www.commodity-tv.com/ondemand/companies/profil/miata-metals-corp/ – has interests in two promising gold projects (Sela Creek, Nassau) in Suriname, South America, with the option to acquire a 100 percent interest.

Sierra Madre Gold and Silver – https://www.commodity-tv.com/ondemand/companies/profil/sierra-madre-gold-silver-ltd/ – successfully started production at its Guitarra project (gold and silver) in Mexico at the beginning of the year. A second promising project in Mexico is also part of the portfolio.

Current company information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/en/companies/sierra-madre-gold-and-silver-ltd/ -) and Miata Metals (- https://www.resource-capital.ch/en/companies/miata-metals-corp/ -).

Sources:

https://www.wiwo.de/finanzen/geldanlage/goldpreis-aktuell-gold-steigt-erstmals-ueber-4300-dollar-marke/29741802.html;

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