Again, a central bank buys gold
In the next few years, Poland wants to increase its gold reserves by more than 100 tons. For the first time in two years, the National Bank of Poland has just increased its gold reserves by 60,000 ounces of gold to 230.54 tons. This puts the bank in line with the trend, as investments in precious metals are in the spotlight. With the purchase of additional gold, the banks associate a strengthening of the security of the state finances. Gold is also a safe commodity. Likewise, the Hungarian central bank is betting on tripling its gold reserves. The main reason is the crisis in connection with the Covid 19 pandemic. Hungary has already made purchases and has thus risen from 56th to 36th place in the international ranking of countries with gold reserves. Poland, by the way, is in 22nd place.
In total, according to the World Gold Council, central banks added an estimated nearly 70 tons to their gold reserves in April. Like private investors, central banks like the characteristics of gold. It is highly liquid, scarce, and it retains its value, plus there is no credit risk and gold is not liable. It benefits many different buyers because it is a capital investment, jewelry, reserve, or component of technology products. Also, gold and also the shares of gold companies add value to a portfolio.
2020 was an extraordinary year with a strong impact on the economy and social life. Uncertainties and risks became a companion. And with negative real interest rates and the need for many economies to take further fiscal measures, investors should also keep an eye on gold stocks.
Tudor Gold has projects in British Columbia in the Golden Triangle. The flagship Treaty Creek project contains gold, silver and copper.
Adventus Mining - https://www.youtube.com/watch?v=Cngx_r_ZpPk - operates primarily in Ecuador. The El Domo copper-gold project and the Curipamba District are important. Other projects in Ecuador are being explored with partners.
Latest corporate information and press releases from Adventus Mining (https://www.resource-capital.ch/en/companies/adventus-mining-corp/).
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