Gold as rock in the surf
Even if the gold price should continue to move sideways in the near future, gold investments must be considered for the longer term. Many see a price breakout as only a matter of time. The election outcome in the USA could perhaps lead to a breakout in the gold price.
However, the long-term trend is important; short-term considerations should be avoided. Covid-19 is causing enormous destabilization of the economy worldwide. And the USA has a huge budget deficit. The fact that money spent by the government is not covered by gold was different.
Before 1944, most currencies were based on a gold standard. From 1944 to 1971, the Bretton Woods system applied. The U.S. dollar was the reserve currency, practically a dollar standard was established. Interestingly, the top guardian of the International Monetary Fund, Kristalina Georgieva, recently announced that we were on the verge of a new "Bretton Woods moment".
This probably means that the challenges posed by the Corona pandemic are comparable to the situation caused by the Second World War, namely a severe economic crisis.
So it might be time to bet on currencies that are not issued by a government. Because fiat currencies have not survived sooner or later. But gold has survived. Thus, an investor's portfolio should also include the values of gold companies. Among many possible candidates, Revival Gold and Aurania Resources are particularly attractive.
Aurania Resources' focus is on precious metals and copper in South America. Its main project is The Lost Cities Cutucu Project in Ecuador. This project was formerly home to Spanish gold mines.
Revival Gold also operates in former gold producing areas. The Beartrack and Arnett Gold Projects are located in Lemhi County, Idaho. This year's drill program has already produced encouraging results.
Current company information and press releases from Aurania Resources (https://www.resource-capital.ch/en/companies/aurania-resources-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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