Buying gold on a grand scale
Most of the Russian gold buys comes from the mines in the country itself. In March, Russian gold reserves rose again by 600,000 ounces (18.66 tonnes of gold). Since the beginning of January, the gold reserves of the Russian central bank have thus increased by almost 56 tonnes of gold and now amount to around 69.7 million ounces of gold (2,167.91 tonnes). This corresponds to the enormous value of 90.01 billion US dollars.
India is also striving to increase its domestic supply of gold and reduce its need for imports. A meeting of top ministers recently took place on the subject of gold status. India wants to become less dependent on imports. The gold is to be mined in coins or jewellery. Gold is to rise to the asset class. The Indian citizens who melt gold jewellery or coins into bars in special approved refineries are to receive certificates similar to share certificates. Interest should be possible.
Gold has traditionally been considered a safe place to invest in uncertain times. It is estimated that global demand for gold will rise to a four-year high this year, equivalent to around 4,370 tonnes of gold. It is a good thing that there are gold companies that could ensure supplies in the future, such as Treasury Metals or US Gold.
Treasury Metals is on track to bring one of Canada's next gold mines into production with its Goliath gold project. Located in Ontario, the mine is 100 percent owned by Treasury Metals and is already in the approval process. The interests of local groups (Wabauskang First Nation) are taken into account.
US Gold has a number of exploration and development properties and is focused on gold and copper. At the Keystone gold project in Nevada, the investigations in the 20 square kilometre project area were greatly expanded. The similarity with other large gold deposits in Nevada gives reason to hope for large gold discoveries.
Current corporate information and press releases from US Gold (https://www.resource-capital.ch/en/companies/us-gold-corp/) and Treasury Metals (https://www.resource-capital.ch/en/companies/treasury-metals-inc/).
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