Gold mining companies strong, thanks to high gold price
Since November and especially since mid-March the price of gold has risen significantly. Gold companies profit
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Gold is a safe investment. Especially at the present time, when the recovery of the global economy takes time due to the corona crisis. For the USA, FED boss Jerome Powell assumes that the recovery can last until 2021. In the USA, industrial production and also retail sales have fallen sharply. Negative interest rates in the USA are already being discussed. People with savings accounts have to watch their assets dwindle.
And the price of gold also benefits from this. Likewise, from a feared resumption of the trade dispute between China and the USA. The share prices of many gold companies have therefore also risen significantly since mid-March. Skeena Resources and Treasury Metals, for example.
Skeena Resources is focused on the Golden Triangle in British Columbia for its development and exploration projects. The Eskay Creek gold-silver mine, which has been producing in the past, is the focus of these projects. In addition, the Snip Gold Mine, which has also produced earlier.
Treasury Metals is focused on its Goliath gold project in Ontario. Recent drill results have yielded up to nearly 50 grams of gold per tonne of rock.
The economy is not in the best of shape in Euroland either. According to the growth forecast of the EU Commission, Germany's economic growth in 2020 will be below the one percent mark, as well as Italy's. In all other EU countries, the forecasts indicate that the result will be better. Germany as a car and export nation has been hit hard. Investors should protect themselves with a well-mixed portfolio. This also includes gold stocks.
Latest corporate information and press releases from Skeena Resources (https://www.resource-capital.ch/en/companies/skeena-resources-ltd/) and Treasury Metals (https://www.resource-capital.ch/en/companies/treasury-metals-inc/).
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