Barrick Gold (GOLD)

Mar 10, 2022Trade Ideas

Russia and Ukraine have failed to reach a deal on a cease-fire.

As reported by CNBC “Talks between Russia and Ukraine have failed, with foreign ministers from both countries making no progress on a potential cease-fire agreement. The discussions came a day after Russian forces bombed a maternity hospital in Mariupol.”

With tensions rising further, investors are still investing heavily in gold, which is now back above $2,000. From here, the metal could even test $2,500, given the uncertainty. Goldman Sachs for example say that’s possible.

In fact, according to Business Standard, “The last time that we saw all major demand drivers accelerate simultaneously was in 2010-2011 when gold rallied by almost 70 per cent. Given the material upward revision in investment and demand assumptions, we now upgrade our 3 /6 / 12-month gold targets from $1950/2050/2150 an ounce to $2300/2500/2500 per ounce,” wrote Mikhail Sprogis, Sabine Schels and Jeffrey Currie of Goldman Sachs in a recent note.”

That being said, investors may want to buy the dip in gold stocks, such as Barrick Gold (GOLD).

After running from a low of about $18 to $26, GOLD pulled back slightly on Wednesday. That dip may be an opportunity as the Russia-Ukraine war rages on.

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