Gold manages a positive number in advance of today’s rate decision
Denver Gold Forum consensus projects gold at over $1800 before year-end

(USAGOLD – 9/21/2022) – Gold managed to put up a positive number ahead of today’s rate decision and press conference. It is up $9.50 at $1877. Silver is up 26¢ at $19.60. Gold miners, we are happy to report, have not lost faith in the metal upon which their livelihood depends. In fact, as a group, they think things will get decidedly better as the year progresses.

“Not even the most hawkish Federal Reserve in decades can beat down the exuberance of gold enthusiasts at the industry’s biggest annual gathering,” reports Bloomberg in an article posted yesterday. “Bullion prices will reach $1,806.10 an ounce by year-end, according to the average estimate in a survey of 10 participants at the Denver Gold Forum, the yearly meetup of mining executives, investors, bankers and analysts.” As concerns mount over Ukraine and the South China Sea, a remark from the World Gold Council’s Joseph Cavatoni seemed particularly relevant. “You’ll continue to see investment globally interested in owning gold strategically,” he said. “Plus the geopolitical risks are going to keep it front and center, on the mind of every investor.”

Gold annual price gain or loss
(%, 2000-present)
bar chart showing the percent gain or loss in gold annually 2000-2022
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