Central banks love gold - that should give some food for thought
According to the World Gold Council, 16 central banks have increased their gold holdings extremely. One of the biggest gold buyers was Russia. Hungary has struck for the first time since 1986. Turkey, Morocco, Iraq, Kazakhstan and even India have also increased their reserves.
That the central banks bought so much gold this year is no coincidence. For thousands of years, gold has proven itself as a hedge against crises, uncertainties and political imponderables.
Hungary was particularly keen to buy - with an increase from 3.1 to 31.5 tonnes of gold. There are also impressive figures from Morocco - 3.3 tons of gold turned into 22.1 tons of gold. Incidentally, there are still a number of countries that have nothing to say about their gold reserves. These include Iran, North Korea and Iran, for example. According to official figures, China has not bought any gold for 25 months. Whether that's true or not is written in the stars.
Gold is therefore more popular than ever with central banks. As an investor, you should hold in a well diversified portfolio not only gold in physical form but also well selected stocks of gold companies. One might think of Auryn Resources or Orsu Metals.
Auryn Resources - https://www.commodity-tv.net/c/search_adv/?v=298762 - is still a junior mining exploration company, but has an excellent track record of projects. This includes gold projects in British Columbia, Peru and Nunavut. A very experienced management team and the presence in mining friendly regions are a plus.
In Russia, in Eastern Siberia, Orsu Metals - https://www.commodity-tv.net/c/search_adv/?v=298670 - works on its Sergeevskoe gold project, 90 percent of which is owned by the company itself. Recent drilling has returned excellent gold grades and up to 35.15 grams of gold per ton of rock. Also, to the delight of Orsu Metals, a brand new discovery was made which, together with the already known deposit, forms a single large system.
Current corporate information and press releases from Auryn Resources (https://www.resource-capital.ch/en/companies/auryn-resources-inc.html).
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