Golden problems in Iran
In October, Iranian authorities accused an Iranian gold trader of contributing to price increases by accumulating gold. He is said to have hoarded two tons of gold coins. He would have exploited the country's financial problems. The dealer, Vahid Mazloumin - "The Sultan of Coins" - and his assistant were severely punished. This is intended to discourage misconduct on a commercial scale, as the country is experiencing an economic crisis.
In 2018, the rial currency lost around 70 percent of its value under the threat of US sanctions. Dollars and gold coins are therefore in high demand. Because the Iranians want to protect their savings. If you put a little gold on the high edge in time, you now have reserves that do not devalue. After all, the cost of living has risen sharply. But this also increased the illegal trade in gold and foreign currencies.
In the last few days alone, about 130 illegal currency traders are said to have been arrested. It seems difficult for the government to help the Iranians. For needy people there should be help to be able to pay for food. At the beginning of November, the USA once again tightened its sanctions against Iran, targeting the oil and banking sectors. To what extent the accusations of the USA in the nuclear dispute with Iran and also the accusations in the area of terror are true, the situation is not good for the citizens of the country.
But once again you can see how gold comes to the fore when fears for savings are bypassed and crisis situations diminish confidence in a government. Therefore, an investment in the value-preserving gold or in the shares of the gold companies should also be considered in this country. Interesting gold companies include Auryn Resources and Bluestone Resources.
Although Auryn Resources - https://www.commodity-tv.net/c/search_adv/?v=298585 - is still a junior exploration company, the company has an excellent portfolio of exploration properties. Auryn's gold projects are located in Nunavut (Committee Bay, Gibson MacQuoid), British Columbia (Homestake Ridge) and southern Peru.
Bluestone Resources - https://www.commodity-tv.net/c/search_adv/?v=298585 - is working on its Cerro Blanco gold project in Guatemala. This is the largest economy in Central America and also one of the most efficient. Approximately one million ounces of gold and more than three million ounces of silver could be mined on Cerro Blanco. In addition, Bluestone Resources owns a geothermal project in the same country, which is licensed to build and operate.
Aktuelle Unternehmensinformationen und Pressemeldungen von Auryn Resources (https://www.resource-capital.ch/en/companies/auryn-resources-inc.html) und von Bluestone Resources (https://www.resource-capital.ch/en/companies/bluestone-resources-inc.html).
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