Gold price awaits new data

Investors are paying attention to the release of new economic data, inflation figures, and how the US Federal Reserve will shape its future monetary policy. Even if everything is fundamentally in place for the gold price to rise, such data can influence the gold price in the short term. At just under $4,100 per troy ounce, the price of the precious metal is not far from its all-time high. For a new, overarching buy signal, at least towards an all-time high, the price of the precious metal would have to rise above US$4,256. By then, however, investors should already be invested.

There have been rapprochements in trade policy, but what we have learned from US politics is that there can always be new surprises. Investors should therefore continue to seek refuge in gold as a safe haven. New data releases after the end of the shutdown should shed some light on the US economy.

Gold and silver prices are moving abruptly at times, but this is not unusual in a rally. The fact that a weakening US dollar is good for the gold price is not set in stone. In September, the gold price continued to climb despite the strength of the US dollar.

Gold is generally considered a means of maintaining purchasing power and providing security in uncertain times. The loss of confidence in the US dollar and rising US debt increase the attractiveness of gold and, with it, that of gold companies.

Equinox Gold (https://www.commodity-tv.com/ondemand/companies/profil/equinox-gold-corp/) owns high-quality gold deposits in excellent jurisdictions with high profit margins. Two large gold mines are located in Canada. Other mines are located in the US, Brazil, Nicaragua, and Mexico.

In the third quarter, the company achieved a record production of more than 236,000 ounces of gold. Equinox Gold is working towards an annual gold production of over one million ounces in a few years. Production of up to 915,000 ounces of gold is already expected for 2025.

Current company information and press releases from Equinox Gold (- https://www.resource-capital.ch/de/unternehmen/equinox-gold-corp/ -).

Sources: Equinox Gold, https://www.finanzen.net/rohstoffe/goldpreis/chart

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