Summa Silver Corp. (TSXV: SSVR, OTC: SSVRF, FRA: 48X)
Silver Lives Here
Gold and silver prices continued to rise in intraday trading on Tuesday due to concerns about the negative impact of US trade and foreign policies, highlighting the precious metals’ safe-haven attributes. Nymex April gold futures closed up $13.80 at $3,029.40 an ounce, while silver futures up $0.775 at $34.22.
In a newly released report, Société Générale said that in this current environment, investors should definitely hold gold and use it as a key defensive asset. Gold accounted for 7 per cent of the bank’s second-quarter multi-asset portfolio announced last week, remains the largest commodity position in Societe Generale’s portfolio.
Analysts point out that gold is an essential investment in the portfolio against the backdrop of major policy reactions triggered by the US government’s redefinition of geopolitics. They predict that gold prices will continue to move higher, mainly because geopolitical uncertainty continues to support central banks and more investors to buy gold as a hedge against potential risks.
Société Générale believe that if the Russian central bank’s frozen €210bn of assets are seized in support of Ukraine, the gold price could move significantly higher further, likely reaching $4,000 an ounce.
Meanwhile, Peter Schiff, chief economist and global strategist at Euro Pacific Asset Management, recently said that amid ongoing trade tensions and tariff uncertainty, gold can no longer be overshadowed.
As a long term gold bull, Schiff had predicted a rise in the price of gold to $3,000 when the price was $2,000. Now, gold has realized the $3,000 target price.
In a recent post on social media, he said that while major central banks are increasing their reserves of gold, retail investors have a unique investment opportunity, with the price of gold expected to rise above $4,000, now is still the best time to invest.
Bloomberg Senior Commodity Strategist Mike McGlone expressed a similar view, saying that the price of gold is in a trend of reaching new highs as it seeks to establish its value above $3,000 per ounce.
In an X post on 21 March, he said that gold’s next price target is at $4,000/oz while it continues to be supported by a combination of falling risk asset prices, falling US Treasury yields and heightened global economic uncertainty.
