Central banks take advantage of low gold price
The official gold reserves were increased by nine tonnes, or 355 million US dollars. This is, after all, the largest purchase made by any EU country in this century. Even if the Polish central bank did not say anything about the reasons, one important reason might be the diversification of the currency reserves and thus away from the US dollar and the Euro.
In general, buying gold for central banks seems to have just come into fashion. Russia, Turkey and Kazakhstan have also bought gold this year. And India imported twice as much gold in September as in September 2017, namely 93.8 tonnes. In August, more than 90 tonnes of gold had already been purchased from India. The Bundesbank in Germany, on the other hand, has not bought any gold in recent years, but has recovered about half of the gold stored abroad.
In 2018, the central banks increased their gold reserves by a total of 264 tonnes of gold. Should even more central banks make similar decisions, this is certainly not bad for the gold price. Perhaps one should do the same with the central banks and bet on gold or gold companies. Treasury Metals or Revival Gold, for example, could be considered.
Treasury Metals‘ flagship project Goliath is located in Ontario - https://www.commodity-tv.net/c/search_adv/?v=298478. It scores with excellent infrastructure, an estimated 1.14 million ounces of gold and approximately two million ounces of silver. Initially an open pit mine will be built, later an underground gold mine. Production is scheduled to start in 2019.
Revival Gold is drilling at the Beartrack Gold Project located in Lemhi County, Idaho. The Company has also commenced drilling on the adjacent Arnett Gold Project. Revival Gold's portfolio also includes the Diamond Mountain Phosphate Project in Utah, which is at an advanced stage.
Current company information and press releases from Treasury Metals (https://www.resource-capital.ch/en/companies/treasury-metals-inc.html).
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