Everyone wants gold
In April Turkish gold reserves rose by 32.8 tonnes. Gold now accounts for about 40 per cent of the currency reserves. Serbia and Ecuador also bought in. There were reductions in the euro zone or Kazakhstan, for example. The USA is still in the lead, followed by Germany. The United Arab Emirates also recorded an increase in gold reserves. According to the World Gold Council, the Emirates were the third largest gold buyers on earth in January and February.
It is generally assumed that central banks will remain net buyers in 2020. And advisors to the rich are also advising more gold. Banks no longer recommend their customers to hold little or no gold at all, but rather advise them to fill around 10 percent of their portfolios with gold. According to Reuters, nine major banks, which manage a good six trillion US dollars for the extremely rich, have recommended increasing investments in gold.
Since the beginning of the year, the price of the coveted precious metal has risen about 14 per cent and many, like the big banks, are betting that the rally will continue. It is important to remember that the gold market is worth just under five trillion US dollars and the bond and stock markets around 200 trillion US dollars. A shift of investments towards gold can therefore act as a strong price driver for gold.
Therefore, it is obvious to deal with the gold companies that own the gold in their projects.
Vizsla Resources is making good progress with its Panuco silver-gold project in Mexico: https://www.commodity-tv.com/play/newsflash-with-vizsla-resources-oceana-gold-goldmining-endeavour-silver/. Located in the epithermal belt of the Sierra Madre, the mine is only about 80 kilometres from the San Dimas mine. Extensive infrastructure with roads, electricity and a skilled workforce is in place.
Treasury Metals, the owner of several projects in Canada, has the Goliath gold project in Ontario as its top priority: https://www.commodity-tv.com/play/newsflash-with-rnc-minerals-karora-resources-auryn-resources-and-treasury-metals/. The infrastructure is excellent, and the project will initially be operated in open pit mining.
Current company information and press releases from Vizsla Resources (https://www.resource-capital.ch/en/companies/vizsla-resources-corp/) and Treasury Metals (https://www.resource-capital.ch/en/companies/treasury-metals-inc/).
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