Alain Corbani, head of mining at Montbleu Finance and manager of the Global Gold and Precious Fund, sees the gold price reaching US$5,000 per ounce in the near term.
He sees real interest rates and the US dollar as the key factors to watch, but noted that other elements are also adding tailwinds.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Former Vice President Al Gore on Wednesday condemned President Donald Trump’s move to withdraw the U.S. from United Nations-linked climate initiatives.
Gore claimed in a post on X that ‘the most significant challenge of our lifetimes’ is ‘the climate crisis.’
‘The ongoing work of the IPCC, UNFCCC, and other global institutions remains essential to safeguarding humanity’s future,’ he asserted, referring to the Intergovernmental Panel on Climate Change (IPCC), the United Nations Framework Convention on Climate Change (UNFCC).
‘By withdrawing from the IPCC, UNFCCC, and the other vital international partnerships, the Trump Administration is undoing decades of hard-won diplomacy, attempting to undermine climate science, and sowing distrust around the world,’ he wrote.
Trump issued a memorandum ordering U.S. withdrawal from the two initiatives that Gore mentioned as well as scads of other entities.
The president’s memorandum lists the Intergovernmental Panel on Climate Change under a grouping of ‘Non-United Nations Organizations.’ But the website ipcc.ch states, ‘The Intergovernmental Panel on Climate Change (IPCC) is the United Nations body for assessing the science related to climate change.’
In the memorandum, the president declared that he has ‘determined that it is contrary to the interests of the United States to remain a member of, participate in, or otherwise provide support to the organizations listed in section 2 of this memorandum.’
Secretary of State Marco Rubio said in a statement, ‘As this list begins to demonstrate, what started as a pragmatic framework of international organizations for peace and cooperation has morphed into a sprawling architecture of global governance, often dominated by progressive ideology and detached from national interests.’
Gore, who served as vice president alongside Democratic President Bill Clinton, lost the 2000 presidential contest to Republican George W. Bush.