Barrick Gold estimates set the price of an ounce of gold above 1700 USD in 2022
According to Mark Bristow, Gold should trade between 1750 US dollars and just over 1800 USD per ounce in 2022. A declaration made in Riyadh, on the sidelines of the first major mining conference in Saudi Arabia.
The boss of Barrick Gold believes that the risks of falling gold prices in 2022 are lower. “I don’t think there’s a lot of downside risk,” he explained.
Meanwhile, other analysts see gold falling considerably this year, in particular because of the increase in the key rate of the American Federal Reserve, which would make Treasury bonds more attractive.
Some experts find Mr. Bristow’s position based on the use of gold by investors as an instrument of reserve and protection against inflation and the instability of the economy, in the midst of the Covid-19 pandemic. They explain that it is this set of factors that allowed the yellow metal not to fall too suddenly last year, after its rally in 2020 and the peak at more than 2,000 USD per ounce.
Note also that in its 2021 report published on January 7, the World Gold Council indicated that in 2022, Gold would experience a similar dynamic in 2022.
“ Looking ahead, we believe Gold will see similar dynamics in 2022. Persistent high inflation is still likely due to the ripple effects of Covid-induced monetary and fiscal policies, disruptions in the supply chain and a tight labor market ,” the report notes.
As one of the world’s major producers of the yellow metal, the DRC has an interest in putting all the batteries into action to make the most of the best offer that gold will present on the international market.
