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Gold rush in Eastern Europe

Gold is highly valued in Eastern Europe. Gold reserves are piled up to increase security. Because gold is a sign of economic sovereignty

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This is how the Croatian economist Vuk Vukovic sees it. Gold is a symbol that at the same time holds a message for voters. Many Eastern European leaders are currently concentrating on owning the precious metal.

For example, after returning 100 tonnes of gold to the country, Poland stressed its economic power. Poland has doubled its gold reserves in the last two years and now has the largest gold treasure in the Eastern European region. Gold reserves in Hungary increased tenfold last year. Romania also wanted to bring home gold reserves, but the fall of the government intervened here.

Prime Minister Viktor Orban has also increased gold stocks in Hungary. China and Russia are diversifying their reserves because these countries are far away from the US dollar. In the former communist wing of Europe, geopolitical tensions are growing with regard to the USA. This is likely to have contributed to the gold rush in Eastern Europe.

In Slovakia, too, former Slovak Prime Minister Robert Fico is insisting on bringing back gold stored in Great Britain. He wants to go back to power. In his opinion, Slovakian gold in the UK is at risk due to the Brexit and global economic weakness. Serbia is also increasing its reserves of gold, buying nine tonnes in October alone.

Gold companies such as Caledonia Mining and Auryn Resources should also be pleased about the generally strong interest in this precious metal. Caledonia Mining has been a successful gold producer in Zimbabwe for many years - https://www.commodity-tv.com/play/newsflash-99-with-millennial-lithium-aurania-resources-osisko-gold-royalties-auryn-resources-und-caledonia-mining/. The Blanket gold mine is partly owned by local investors and thus has the full support of the locals.

Auryn Resources is active in Nunavut, British Columbia and Peru - https://www.commodity-tv.com/play/auryn-resources-permits-for-sombrero-underway-further-exploration-at-curibaya-committee-bay/. The company's portfolio includes seven projects. The gold projects and gold-copper projects have already produced high grade gold and silver results.

Current company information and press releases from Caledonia Mining (https://www.resource-capital.ch/en/companies/caledonia-mining-corp/) and Auryn Resources (https://www.resource-capital.ch/en/companies/auryn-resources-inc/).

In accordance with §34 WpHG, I would like to point out that partners, authors and employees can hold shares in the companies mentioned in each case and therefore there is a possible conflict of interest. Only the German version of these messages applies.

Disclaimer: The information provided does not constitute any form of recommendation or advice. We expressly point out the risks involved in securities trading. No liability can be assumed for damages resulting from the use of this blog. I would like to point out that shares and in particular warrant investments are generally associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. I expressly reserve the right to make a mistake, in particular with regard to figures and exchange rates, despite the utmost care. The information contained herein has been obtained from sources believed to be reliable but does not claim to be accurate or complete. Due to court rulings the contents of linked external sites are also to answer for (so among other things district court Hamburg, in the judgement of 12.05.1998 - 312 O 85/98), as long as no explicit dissociation from these takes place. Despite careful control of the contents, I do not assume any liability for the contents of linked external sites. The respective operators are solely responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/ 

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Always up to date with the newsletter from SRC

Swiss Resource Capital AG will use the information you provide in this form to keep in touch with you and to provide you with updates and marketing information. To receive our news, you still have to give us permission to send you E-Mails below.

You can change your mind at any time by clicking on the Unsubscribe link, which you can find in the footer of every email you receive from us, or by contacting us at [email protected] We will treat your information with care and respect. For more information about our privacy practices, visit our website. By clicking below, you agree that we may process your information in accordance with these Terms.

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