Gold may still be a golden opportunity.
After running to $2,000 earlier this year, Goldman Sachs still believes the metal could see $2,500 by the end of the year—especially with fears of a potential recession.
According to Jeff Currie, Goldman Sachs global head of commodities research, as quoted by Bloomberg, “It’s a perfect storm for gold right now.” In addition, “There’s three legs to this story. One, you have strong investor demand for gold over concerns about inflation, recessions, and downturn in places like Europe. The second leg is central bank buying … and with the situation in Russia, they’re likely to accumulate dollars in reserves they can’t do anything with. What can they do with it? Buy gold.”
That’s all positive news for companies such as Reyna Silver Corp. (TSXV: RSLV) (OTCQX: RSNVF), Hecla Mining Company (NYSE: HL), SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM), First Majestic Silver Corp. (NYSE: AG) (TSX:FR), and Enduro Metals Corp. (TSXV: ENDR) (OTCQB: ENDMF).