Advertisement - This article is distributed on behalf of GoGold Resources Inc. and Osisko Development Corp., with which SRC swiss resource capital AG has paid IR consulting agreements. Producer: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: July 15, 2026, 2:20 p.m. Zurich/Berlin ·
After all, the precious metal’s price decline in June was the largest since October 2008. This was because oil prices fell in June while the U.S. dollar rose. Added to this were statements by the new Fed chair suggesting a tighter monetary policy. Expectations of interest rate hikes grew, which further strengthened the U.S. dollar. Investment funds sold off more gold holdings. And it wasn’t just the U.S. dollar—two-year Treasury bonds also rose. Now it all comes down to whether Fed Chair Kevin Warsh is more inclined to fight inflation or prefers to yield to pressure for lower interest rates, as the U.S. president would like.
The U.S. economy is relatively strong, yet inflation remains stubbornly high. Overall inflation in the U.S. stands at over four percent. And whatever decision Warsh makes, it will reveal the extent to which the Fed is independent. Many assume the U.S. dollar is in a long-term downward trend, as budget deficits are immense, central banks are stepping up their gold purchases, and the U.S. dollar is increasingly losing its role as the ultimate store of value. The fact that it nevertheless remains strong is counterproductive for the price of gold.
In any case, two forces are working against each other here. However, gold should increasingly establish itself as a safe reserve asset. After all, many countries are diversifying their reserves by increasingly turning to gold. While they cannot completely turn away from the U.S. dollar—because it plays a dominant role in financing and currency reserves—they are reducing their dollar reserves in favor of gold. As a result, the share of gold reserves in total global reserves has even reached about 34 percent at times, a record high.
GoGold Resources - https://www.commodity-tv.com/ondemand/companies/profil/gogold-resources-inc/ - is debt-free and produces gold and silver in Mexico. In the third quarter, the company produced 268,673 ounces of silver, 3,036 ounces of gold, 88 metric tons of copper, and 116 metric tons of zinc, for a total of 477,464 ounces of silver equivalent. This represents a 21 percent increase over the second quarter. The Parral Tailings Project is located in the state of Chihuahua. For the advanced Los Ricos South underground mining project, all necessary permits and approvals for the construction of the underground mine have been granted. With ongoing revenue, Los Ricos North and Los Ricos South can be developed optimally.
Osisko Development - https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/ - owns, among other assets, the flagship Cariboo Gold project (Canada, 100 percent, fully permitted). It is located in the historic Cariboo Mining District in central British Columbia and is considered one of the best land packages in Canada. Production at Cariboo (approximately 190,000 ounces of gold annually over ten years) is scheduled to begin in 2027. A 70,000-meter drilling program is well underway and fully funded. The current, very positive drill results point to the presence of the anticipated resource growth. The company’s goal is to become a mid-sized gold producer.
Current company information and press releases from Osisko Development (- https://www.resource-capital.ch/de/unternehmen/osisko-development-corp/ -) and GoGold Resources (- https://www.resource-capital.ch/de/unternehmen/gogold-resources-inc/ -).
You can also find further information in our new Precious Metals Report at the following link: https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/.
Sources: GoGold Resources, Osisko Development,
https://www.resource-capital.ch/de/reports/ansicht/edelmetall-report-2026-03/.
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