China simplifies gold imports
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China has now even partially lifted import restrictions on gold. The country is the largest gold importer in the world. Around 1,500 tons of the precious metal found its way to China in 2018, a value of around 60 billion US dollars. This is about one third of the world's total demand for gold.
In recent months, China had cut the import quotas for gold for commercial banks. The reason was probably the intention to strengthen the yuan. This had fallen sharply in relation to the US dollar - not least because of the trade disputes that are weighing on the Chinese economy.
There is still a lot of room for improvement in China, as gold currently accounts for only about three percent of currency reserves, compared with 19 percent in Russia. In Germany, on the other hand, gold accounts for around 70 percent, a huge difference. But even central banks that have not yet bought gold are now among the gold buyers.
Increasing geopolitical tensions or the zero interest rate policy should also encourage private investors to reflect. So you should definitely have gold or gold stocks in your portfolio, because times are extremely uncertain when it comes to your own assets.
Gold companies should look for solid and well positioned companies such as Treasury Metals or TerraX Minerals. Treasury Metals - https://www.youtube.com/watch?v=puN7UI1QvR0&t=10s - has just received environmental review approval from the relevant authority for its Goliath gold project in Ontario. The project, which is at an advanced stage of development, can therefore continue to develop very well.
TerraX Minerals - https://www.youtube.com/watch?v=puN7UI1QvR0&t=10s owns 783 square kilometers of best gold land with its Yellowknife City gold project in the Northwest Territories of Canada. Well financed, the summer drilling program is running.
Current corporate information and press releases from Treasury Metals (www.resource-capital.ch/de/unternehmen/treasury-metals-inc/) and TerraX Minerals (www.resource-capital.ch/de/unternehmen/terrax-minerals-inc/).
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