imsainvestments @imsainvestments: " $GOLD.BARRICK $NEM $HMY $GDXJ $GDX..."

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$GOLD.BARRICK (Barrick Gold) $NEM (Newmont Mining Corp) $HMY (Harmony Gold Mining Co Ltd-ADR) $GDXJ $GDX GOLD After a strong performance earlier in the year, gold prices have reached record highs, surpassing $2 500. Middle East tensions initially boosted gold prices. Now, Federal Reserve rate cuts and the upcoming U.S. election are key drivers behind gold's current momentum. Predictions from major financial institutions like UBS, Morgan Stanley, and Goldman Sachs suggest further price increases, with targets ranging from $2,600 to $2,700 by the end of the year. Historically, gold tends to perform well in September and December. However, U.S. election cycles have sometimes created headwinds for gold, with the stock market generally performing better in the wake of elections. There is growing speculation that the Federal Reserve will start cutting interest rates in September, with possibly six cuts by March 2025. Lower rates typically increase gold's appeal as an investment since they reduce yields on competing assets like bonds. In the past gold prices have seen modest gains during periods of rate cuts. To summarise, the current environment of potential rate cuts, along with seasonality reasons , suggests continued upside potential for gold prices. The U.S. election may temper some of this momentum, depending on broader market conditions. W22P5

5 Mentioned

GOLD.BARRICK

Barrick Gold

NEM

Newmont Mining Corp

HMY

Harmony Gold Mining Co Ltd-ADR

GDXJ

VanEck Vectors Junior Gold Miners ETF

GDX

VanEck Vectors Gold Miners ETF