Finance

Analysts: Gold Price Will See These Levels in Short, Medium and Long Term!

Credit Suisse analysts remain optimistic that gold prices will close the year at $1,900 per ONS. In addition, strategists and analysts at Credit Suisse explain the short, medium and long-term levels for the gold price. Let’s take a closer look at the claims of Credit Suisse analysts…

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Credit Suisse states that gold prices will close the year at $1,900 per ONS

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Swiss investment bank Credit Suisse states that beyond the gold price, a gold price of around $1,800 per ONS still provides enough value for a low-cost mining segment. Fahad Tariq, an expensive metals analyst at the bank, comments on the matter:

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We continue to remind investors that the current gold price allows for healthy margins and free cash flow for almost all producers in our coverage area. On top of that, balance sheets have never looked better and are expected to be stronger. Even if gold holds steady or drops slightly from current levels, gold stocks still look attractive in valuation. We are still waiting for the announcement of higher dividend announcements and increased repurchase speed with strong margins and higher production in the second half.

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Fahad Tariq: The gold price not only provides a lot of leverage for mining shares…

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These comments come as the mining division prepares for the second quarter interest period. The gold price not only provides a lot of reinforcements for mining shares, but also Fahad Tariq emphasizes the relatively low cost of the division. Fahad Tariq said that the segment is currently trading at about 1.3 times its price relative to its net asset value (P/NAV). Historically, the cut processes at approximately 1.8x P/NAV.

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The current average implied gold price in valuations based on our models is approximately $1,540/ONS for spot. From a broader metals perspective, we see more upside and again rating potential for gold producers in the near term than copper.

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Fahad Tariq explains his firm’s top picks in the mining division

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Fahad Tariq said that his firm’s best choices in the mining segment are Agnico Eagle, Barrick, Endeavor Mining, Kinross, Newmont and Yamana Gold. Despite Credit Suisse’s positive outlook, the mining division is struggling to attract investor attention and capital. Following the world’s largest gold producers, the VanEck Vectors Gold Miners ETF (NYSEARCA: GDX) is currently trading at $34.85, down 7% since the start of the year, in line with the decline in the gold price.

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Strategists at Credit Suisse draw attention to these levels for the gold price!

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Strategists and analysts at Credit Suisse also analyze the levels that the gold price will see in the short, medium and long term. Analysts note the following levels:

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Gold price (XAU/USD) remains above the precious in-range reinforcement of $1,765/5. XAU/USD will drop to $1,682 with a break below $1,755/51. Gold price continues to rise after holding the precious in-range price reinforcement at $1,765/55 and is looking for strength to return to its 200-day average of $1,827. 1. A close is needed here to open the door to a return to more valuable resistance at $917/66. A close below $1.755/51 will caution against retesting more valuable reinforcements at $1,682/71.

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Cryptocoin. com, as we reported earlier, for more gold predictions “Economists and Analysts: We Will See Gold at These Levels Before the End of the Year!” You can review our article.

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