Gold is security
Investors want security, so the demand for gold is extremely high as the corona pandemic still has the world in its grip. One piece of news has just scared investors in the "crisis currency": certain physically deposited gold certificates are now to be taxed. A new draft of the German government wants to tax the hitherto tax-free profits from 2021 onwards, provided the certificates guarantee a claim to delivery of gold.
Coins and bars are rewarded with tax exemption if you hold them for a certain period of time. This was previously the case with Xetra certificates, for example, which were easier to handle than physical gold. Just think of the safe storage. After a holding period of more than a year, the profits were previously tax-free. Should this now change, this could make the purchase of coins and bars or even gold shares of gold companies comparatively more attractive.
In the corona peak phase, it was often difficult to buy physical gold or even silver, because the demand was enormous and the waiting periods were long. Xetra gold owners should now consider, if they have already held their securities for more than a year, whether they should sell better, or have the gold delivered, or buy shares of gold companies. Gold will continue to be in high demand due to uncertainties about the progress of the pandemic, low interest rates and rising global debt.
Among the gold companies, companies with promising projects in excellent and mining-friendly regions, such as Skeena Resources or Aztec Minerals, are particularly popular.
Skeena Resources is developing the earlier producing Snip and Eskay Creek gold and silver mines in British Columbia. Initial estimates of mineral resources at Snip are very encouraging (13.3 grams of gold per tonne of rock, inferred).
Aztec Minerals is working on its Tombstone silver-gold-lead-zinc-copper project in Arizona and its Cervantes gold-copper project in Mexico. Both gold companies have seen strong price increases in recent months.
The latest corporate information and press releases from Skeena Resources (https://www.resource-capital.ch/en/companies/skeena-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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