The whole world of commodities in one App!

Watch Management & Expert Interviews, Site-Visit-Videos, News Shows and receive top and up to date Mining Information on your mobile device worldwide!

Download our unique App for free!
Commodity-TV Play Store
Commodity-TV App Store

Social Media

Countries eyeing gold

Hungary has increased its gold reserves enormously and India is importing a lot of gold again

Receive up-to-date information about the company directly via push notification

Even if the gold price is not moving much at the moment, a new wave of buying could be imminent. Some countries have already struck. Hungary, for example, has tripled its gold reserves and now holds 94.5 tons of the precious metal. This is the highest level the country has seen in decades. The reason given is the desire for stabilization in times of corona, inflation risks and debt growth. Hungary cited "the importance of gold in the national strategy as a safe haven and a store of value.

The central bank of Poland had also recently declared that it would increase its gold reserves by another 100 tons of gold in the next few years. This is because the country is to be perceived more internationally and its economic strength is to gain as a result. For gold, especially gold jewelry, India is an important customer. After many months in which a low demand dominated the market, the tide is now turning.

India's gold imports increased by 471 percent in March compared to the same month last year (160 tons of gold). According to the Indian government, a total of about 321 tons were imported in the first quarter of 2021, a record amount. From January to March 2020, the amount imported was only 124 tons of gold. This growth in 2021 is certainly also due to reduced import taxes and a low gold price in February.

Just as countries rely on gold, it also serves as a financial reserve and crisis hedge for individuals. With leverage on the gold price, gold companies like Aguila American Gold or CanaGold manage this.

Aguila American Gold owns the 70,000-hectare Wusa gold-silver property, located in Oregon, USA. This is located along the Cordillera del Condor geological trend, where successful companies are already operating. 

CanaGold is focused on advanced gold projects in North America, in Nevada and British Columbia. Of particular significance is the high-grade New Polaris project.

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.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also 

Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here.

* indicates required
SRC Mining & Special Situations ZertifikatSRC Mining & Special Situations Zertifikat