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Bullboard - Stock Discussion Forum New Gold Inc T.NGD

Alternate Symbol(s):  NGD

New Gold Inc. is a Canadian intermediate gold mining company with a portfolio of two core producing assets in Canada, namely the Rainy River gold mine and the New Afton copper-gold mine. The Company also holds other Canadian-focused investments. The Company is engaged in the acquisition, exploration and development of natural resource properties. Rainy River is a gold mine located in... see more

TSX:NGD - Post Discussion

New Gold Inc > Gold to hit $3,000
View:
Post by mrleao on Dec 25, 2022 7:37am

Gold to hit $3,000

Gold to hit $3,000

Among the bank’s calls for next year, Saxo Head of Commodity Strategy Ole Hansen predicted the price of spot gold could exceed $3,000 per ounce in 2023 – around 67% higher than its current price of about $1,797 per ounce.

The report puts its forecasted surge down to three factors: “an increasing war economy mentality” that makes gold more appealing than foreign reserves, a big investment in new national security priorities, and increasing global liquidity as policymakers try to avoid debt debacles in their respective recessions.

“I would not be surprised to see commodity driven economies wanting to go to gold because of a lack of better alternatives,” Steen Jakobsen, chief investment officer at Saxo, told CNBC’s “Squawk Box Europe” on Dec. 6.

“I think gold is going to fly,” he added.

Comment by Paray99 on Dec 30, 2022 7:58pm
No need to hit $3000, just $2000 is good enough to sky rocket most producers!