According to recent statements, Bank of America, for example, has doubts about meeting its debt obligations. In January 2023, the USA will once again have reached its debt limit. The US Treasury is trying to counteract this with extraordinary measures. Large reactions with the gold price are missing, everything happened nevertheless already so often. But the back and forth between Democrats and Republicans could delay a decision longer this time. However, a default would be a disaster financially and economically. For the gold price, gold is and remains the safe haven, this is in any case a certain support. Bank of America, for example, forecasts that gold could well cost US$2,000 per troy ounce this year. After all, uncertainties always make gold attractive.
And still the problem of high inflation remains, and this on a global scale. A problem that the Fed can hardly solve. Inflation is too high for the Fed to lower it significantly by raising interest rates. Because then there is the threat of a recession, and that is not what is wanted. There is no clear path for the global economy; stagflation is quite likely. And therefore, there are analysts who see the gold price in the next few years at a significantly higher level, because the precious metal is an alternative and attractive asset. Currently, the gold price has had to give way significantly, but this could now attract new investors. Ultimately, it does not matter whether stagflation, inflation or recession prevail, gold is considered an excellent diversifier in a portfolio. Therefore, stocks of gold companies should not be missing in any portfolio, for example from Gold Terra Resource or Skeena Resources.
Gold Terra Resource's - https://www.commodity-tv.com/play/mining-newsflash-with-with-victoria-gold-gold-terra-tinone-resources-canada-nickel-labrador-uranium-and-mag-silver/ - Yellowknife City project is located in the Northwest Territories in the prolific Yellowknife Greenstone Belt and it covers approximately 800 square kilometers.
Skeena Resources - https://www.commodity-tv.com/play/mining-newsflash-with-caledonia-mining-canada-nickel-skeena-resources-and-labrador-uranium/ - is revitalizing the formerly producing Eskay Creek gold-silver mine in British Columbia's Golden Triangle.
Current corporate information and press releases from Gold Terra Resource (- https://www.resource-capital.ch/en/companies/gold-terra-resource-corp/ -) and Skeena Resources (- https://www.resource-capital.ch/en/companies/skeena-resources-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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