Control over gold - control over the world
This immediately raises the question of how much gold China actually owns. It's not quite clear, but the Chinese central bank is estimated to hold about 20,000 tonnes of gold. Then there is the gold of the inhabitants, which amounts to an estimated 12,000 tons. Moreover, if China turns its US dollar into gold, supporting its currency with it, the yuan could become stronger.
And this perhaps in a situation in which the USA is not exactly in a happy financial position. Many will say that this cannot be in the interest of the Chinese, because then the export would become more expensive via higher prices in the destinations. But on the other hand, a strong yuan could attract investment in China. Beijing has already started to build its economy on more domestic consumption. Here, too, the stronger yuan would help to push down inflation.
This would definitely cause distortions on the financial markets known so far. Those who bet on the only safe currency in good time could benefit: gold. Those who want to leverage the gold price in addition to a basic stock of physical material can do so with shares of fundamentally good gold stocks. Examples are Skeena Resources and Fiore Gold.
Well funded, Skeena Resources is developing its key Eskay Creek and Snip gold projects in the Golden Triangle in British Columbia: https://www.commodity-tv.com/play/newsflash-with-fiore-gold-rnc-minerals-corvus-gold-isoenergy-and-skeena-resources/. Both mines have historically produced rich gold and silver.
Fiore Gold is pleased to report a 38 percent increase in gold production in the second quarter compared to the first quarter: https://www.commodity-tv.com/play/fiore-gold-growth-oriented-gold-producer-investor-presentation/. The Pan gold mine in County, Nevada is responsible for this increase. The portfolio includes the nearby Gold Rock Project and the Golden Eagle Project near Washington.
Latest corporate information and press releases from Skeena Resources (https://www.resource-capital.ch/en/companies/skeena-resources-ltd/) and Fiore Gold (https://www.resource-capital.ch/en/companies/fiore-gold-ltd/).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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