The US Federal Reserve’s interest rate decisions normally influence the price of gold. When interest rates fall, fixed-income investments become less attractive and the opportunity costs of holding gold decrease. If interest rate cuts are expected, this usually supports the price of gold. Not so long ago, June or July was expected to be the date for an interest rate cut by the Fed. However, the war with Iran has led to changes and prices have risen. It is now generally expected that interest rates will remain unchanged at the next Fed meeting. This is not particularly favorable for the price of gold. However, the current uncertainties and geopolitical disputes are not insignificant. This should strengthen gold as a safe haven for investors.

In contrast to Germany, where inflation has now fallen below two percent, inflation in the US stands at 2.9 percent. This means that the two percent target in the US has not been achievable for a long time. Then there is the problem with the labor market. Recent figures show job losses, weaker retail sales, and rising unemployment in the US. If the US labor market continues to deteriorate significantly, this should encourage the US Federal Reserve to intervene.

Gold is in high demand. Central banks continue to buy, ETF inflows are rising, and demand for bars and coins has increased. The price of gold fell at the beginning of March, but at US$5,000 per ounce, it has bottomed out, allowing for a recovery attempt. According to chart technicians, resistance at US$5,240 per ounce would have to be overcome to start a new price rally. As a significant improvement in the global political situation is unlikely, gold should soon shine again with increased appeal.

Gold X2 Mining – https://www.commodity-tv.com/ondemand/companies/profil/gold-x2-mining-inc/ – owns the advanced Moss Gold Project (gold, silver, copper) in Ontario. Wholly owned, the project is equipped with excellent infrastructure and boasts very good drilling results. In addition, Gold X2 Mining has acquired Kesselrun Resources, thereby expanding the Huronian Gold Project and the land package of the Moss Project.

Fortuna Mining – https://www.commodity-tv.com/ondemand/companies/profil/fortuna-mining-inc/ – is a successful gold and silver producer with mines in West Africa and Latin America. In the third quarter of 2025, more than 72,000 ounces of gold were produced. The mine in Senegal has very good drilling results, and a construction decision is expected in the second quarter of 2026.

Current company information and press releases from Fortuna Mining (- https://www.resource-capital.ch/en/companies/fortuna-mining-corp/ -) and Gold X2 Mining (- https://www.resource-capital.ch/en/companies/gold-x2-mining-inc/ -).

Further information is also available in our new precious metals report at the following link: https://www.resource-capital.ch/en/reports/view/precious-metals-report-2025-11-update/

Sources: Fortuna Mining, Gold X2 Mining,

https://www.wallstreet-online.de/nachricht/20599006-us-zinssenkung-mehr-fed-auswegloser-lage-arbeitsmarkt-schwaecher-inflation;

https://derivate.bnpparibas.com/service/daily/dailyEDEL__Gold___Naechster_Erholungsversuch/;

https://www.resource-capital.ch/en/reports/view/precious-metals-report-2025-11-update/

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