Gold as a reserve currency
Now Malaysia is also considering using the gold dinar as a reserve currency.
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A conference in December dealing with Islamic economics and finance is expected to bring clarity to the gold dinar. The idea behind it is obvious. Trade with China, in ringgit and renminbi, accounts for 25 percent. Trade with Islamic countries can reach five to six percent. Dependence on the U.S. dollar would be reduced. As an alternative to the U.S. dollar, the gold dinar would strengthen the domestic economy. The gold dinar as a national currency would also strengthen trade with China, Indonesia and Thailand in particular.
Bullion coins are official means of payment, but only in the countries in which they were issued. These include the Krugerrand and Maple Leaf. The German gold euro is legal tender only in this country. Political tensions are mounting, and countries that are populous and also rich in raw materials are striving for economic independence. And this includes decoupling from the U.S. dollar. It remains exciting to see whether the BRICS countries are serious about de-dollarization. The gold price would certainly benefit from this. A gold currency could limit the countries' debt, and the economy could presumably grow more sustainably. However, experts do not (yet) see too much chance that a BRICS currency will come. This is because the enormous debts of many countries speak against a return to the gold standard. Nevertheless, gold protects against the loss in value to which fiat currencies are subject. Courageous investors also take precautions with the values of gold companies.
There's Skeena Resources - https://www.commodity-tv.com/ondemand/companies/profil/skeena-resources-ltd/ -, for example. The company owns two formerly producing high-grade gold properties in British Columbia's Golden Triangle. These are to be brought back to life.
Those looking for diversification can look at Gold Royalty - https://www.commodity-tv.com/ondemand/companies/profil/gold-royalty-corp/ . With more than 200 royalties in North, Central and South America, the royalty company offers a wide range of opportunities.
Current corporate information and press releases from Skeena Resources (https://www.resource-capital.ch/en/companies/skeena-resources-ltd/ ) and Gold Royalty (https://www.resource-capital.ch/en/companies/gold-royalty-corp/ ).
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