Everybody wants gold
The Italian central bank wants to claim the country's gold. Now the ECB has approved the draft law of the Italian governing party Lega. Consequently, the gold reserves belong to the State and not to the Italian Central Bank. And there is a lot at stake, after all Italy has the third-largest gold reserves after the USA and Germany.
Italy's situation is not exactly rosy and there has been criticism that the government coalition may want to sell gold just to solve Italy's financial problems. Other central banks are also particularly fond of gold at the moment. In May, Kazakhstan, for example, made a strong purchase again, and the country now owns 11.79 million ounces of gold. Russia and Turkey were also among the gold buyers again.
The recent rise in gold prices may have been the precious metals' liberation blow. Chart-wise, the gold price broke out of a seven-and-a-half-year downward trend at the end of May. Even a consolidation should not change the strength of the gold price for long. Persistent trade tensions and geopolitical distortions, as well as rather negative economic expectations in the euro zone, should make gold a safe haven for some time to come.
This often benefits, as the past shows, smaller explorers and medium-sized producers. Treasury Metals - http://www.commodity-tv.net/c/search_adv/?v=299172, for example, is focused on its 100 percent owned Goliath gold project in Ontario (nearly 1.23 million ounces of gold and approximately 227,000 ounces of silver, measured and indicated) which is to be transferred to production in the near term. The company's portfolio also includes three projects in Ontario and one in British Columbia.
Nevada's Cortez Trend is home to US Gold's Keystone project - http://www.commodity-tv.net/c/search_adv/?v=298868. The Cortez trend is one of the most productive gold trends and home to some of North America's largest mines. The company is well financed for the further drilling program.
Current corporate information and press releases from US Gold (https://www.resource-capital.ch/en/companies/us-gold-corp/) and Treasury Metals (https://www.resource-capital.ch/en/companies/treasury-metals-inc/).
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