The gold price has had a turbulent week: after a price slide on Friday after the US job market report, the price rose slightly at the beginning of the week before prices even recovered significantly after the US interest rate decision. When there was much evidence of an outbreak, US President Donald Trump tweeted about the big hit with China and gold collapsed again.
“The bottom line is that nothing really happened,” says Markus Bußler. Gold is still in the consolidation formation. But an outbreak is only a matter of time. There are many indications that the next major upward movement is taking place. Only the COT data currently hover over the gold price like a sword of Damocles. They are still at a high level.
Markus Bußler warns against an assumption: “Many analysts give silver far less potential than gold.” Just yesterday, there was again an analysis that gold could rise to $ 1,600, but silver only had potential in the range of $ 18. “I think most analysts are wrong here.” Gold outperformed silver in the first upward movement. However, this cannot simply be carried forward into the future. Some may be surprised here. Silver is expected to make up for this lag in performance versus gold in the coming months.
This time, the individual shares are about the takeover of the Massawa project by Teranga Gold. The group acquired the project near Barrick Gold’s Sabodala mine. After a short skepticism, the market is enthusiastic about the deal and sends Teranga shares up. In contrast, Endeavor Mining is stuck with its takeover bid for Centamin. “I honestly hope that Endeavor will not increase the offer,” says Markus Bußler. You can watch the entire video right here.