Gold price back above US$5,000 per troy ounce

Chart technicians see resistance at US$5,098. It is understandable that the gold price had to take a break after its spectacular rise. But it is already on the rise again. The current weakness of the US dollar is certainly a contributing factor. This makes gold purchases, which are traded in dollars, cheaper for buyers outside the US. Some investors have certainly taken advantage of this. Investment demand is likely to remain high in 2026. The factors driving the price of gold, such as geopolitical disagreements, are likely to persist.

Currently, there is keen interest in how the new Fed chair Walsh will act. After all, a Fed that could potentially lose some of its independence is still one of the uncertainties that make gold such an attractive safe haven. In terms of interest rate cuts by the Fed, there is a more than 70 percent probability of at least two cuts by the end of 2026. In January, the price of gold broke through the US$5,000 mark. This was a month in which the price rose by 14 percent.

What is likely to influence the price of gold now are inflation concerns. It appears that fiscal stimulus and loose monetary policy are intended to boost the economy. The danger here is that inflation risks will flare up. On the one hand, the labor market in the US is tight, and on the other hand, the delayed effects of tariffs could become apparent. After all, inventories were reduced before the introduction of tariffs. In any case, gold has proven that it can enhance a portfolio by generating long-term returns, improving diversification, and providing liquidity. Gold companies should also be included in any portfolio.

Newcore Gold – https://www.commodity-tv.com/ondemand/companies/profil/newcore-gold-ltd/ – is actively advancing the Enchi Gold Project in southwestern Ghana, located within one of Africa’s most prolific and well-established gold belts. The Project hosts an Indicated Mineral Resource of 743,500 ounces of gold at an average grade of 0.55 grams per tonne and an Inferred Mineral Resource of 972,000 ounces of gold at an average grade of 0.65 grams per tonne. Recent drill results have returned significant intercepts up to 174 grams/tonne of gold. A preliminary feasibility study is expected to be completed by the end of the first half of 2026.

Mayfair Gold – https://www.commodity-tv.com/ondemand/companies/profil/mayfair-gold-corp/ – controls 100 percent of the 4.3 million ounce Fenn-Gib gold project in northern Ontario in the historic Timmins district. A preliminary feasibility study is already available highlighting a payback under 2 years for a mine designed to get permitted quickly and into production in 2030. Mayfair has producer re-rate potential, exploration upside and takeout optionality.

Current company information and press releases from Mayfair Gold (- https://www.resource-capital.ch/en/companies/mayfair-gold-corp/ -) and Newcore Gold (- https://www.resource-capital.ch/en/companies/newcore-gold-ltd/ -).

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:

https://www.gold.org/goldhub/research/relevance-of-gold-as-a-strategic-asset?utm_medium=email&utm_source=newsletter&utm_campaign=GOLDHUB%3A+Your+Weekly+Gold+Market+Round-up%2C+February+06%2C+2026;

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

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