At the end of the year, gold marked another all-time high, just above $4,500. We believe that the rally will continue into 2026. The shift away from the dollar will continue to drive many central banks and investors into the precious metal. As we approach the turn of the year, we are looking at four high-potential stocks from the gold sector. Gold: Structural Shifts Persist Central banks worldwide - not just the People's Bank of China (PBOC) - do not want to be vulnerable to pressure from the USA. Traditionally, they hold high stocks of Dollar bonds; after all, someone had to finance Americas debt. But that era seems to be over. For 10 years now, many Asian countries, led by China, have been reducing their dollar holdings. Alongside them, Eastern European states, Türkiye, and more recently Tanzania, have stood out as net gold buyers in the market. The precious metal is the alternative to dollar bonds, because gold has one major advantage: it requires no counterparty. No one can take bars stored in a basement, except in the event of war (see Libya, Iraq, etc.). Since the outbreak of the Ukraine war, the departure from the "greenback" has accelerated. This is partly due to the financial war initiated by the USA against Russia. Following the invasion of Ukraine, the country's dollar reserves were frozen. Currently, the European Union, among others, is debating what to do with these funds. Under President Donald J. Trump, this process has further solidified. He favors a weak dollar to boost the domestic export economy. Against the Euro alone, the currency has lost more than nine percent this year. This means that central banks, as well as professional bond investors, lost significant money with US Treasuries. With the Federal Reserve's current policy of rate cuts, we believe this trend will continue into the coming years. Therefore, we share the view of Goldman Sachs or JPMorgan: these investment banks expect the gold price to rise to approximately $5,000 per ounce by the end of 2026. This is not a ...Den vollständigen Artikel lesen ...
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