Gold rush in Eastern Europe
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/).
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