Edward Karr, founder of USAU.US (USAU.US), is optimistic about future gold prices, stressing that fundamentals are strong, although high interest rates and a strong dollar may bring negative factors.
The Zhitong Finance App learned that Edward Karr, founder of the American Gold Company (USAU.US), shared the current gold market and company prospects. Karr stressed that the price of gold hit a record high of around $2,400 an ounce, which he believes is a positive trend for the industry, which is particularly beneficial to junior mining companies.
Despite recent fluctuations, the industry remains highly profitable at these levels. Karr shared his insights at the European Gold Forum in Zurich, where he noted a decrease in investor attendance compared to previous years, which he interpreted as a sign of an “invisible bull market.”
Karr is optimistic about future gold prices, stressing strong fundamentals, although high interest rates and a strong dollar may bring negative factors. He believes that the resilience of gold in the current geopolitical and economic environment shows that the price of gold has the potential to rise further. Karr also pointed out that increased purchases from central banks and Asian markets are signs of continued demand.
Speaking about American Gold, Karr detailed the prospects for its flagship CK gold project in Wyoming, which is close to production and is expected to be licensed. He quoted a sensitivity analysis which showed that the current valuation of gold prices will rise sharply.
The company's Nevada and Idaho projects will also benefit greatly from the current gold market, which may increase the company's valuation and increase merger and acquisition activity in the industry.