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Large gold consumers hoard gold

Recently Turkey lowered the import regulations for gold. The country is one of the largest consumers of precious metals

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In order to bring more gold into the country, the Turkish Ministry of Finance is working on changes concerning the certification and standardisation of gold. This includes gold that is not certified by the London Bullion Market Association (LBMA).

The Turkish Stock Exchange has been monitoring the market for precious metals since 2013 and is a member of LBMA, an international trading association. The gold mined in Turkey is not enough to meet demand. This is because the precious metal has long held a strong position as a hedge against turbulence. Also, traditionally gold is still given away on various occasions. According to the World Gold Council the demand for gold bars also rose there in the last quarter.

There are some drivers for the gold price, not just a love of tradition or the desire to hedge. Economic growth also supports the demand for gold, especially jewellery. Another price driver for the precious metal are the so-called opportunity costs. If competing assets, such as bonds, lose their attractiveness, this benefits the gold price.

All in all, the gold price should remain well supported in 2020 and should please investors, especially those who invest in gold companies. Bluestone Resources or US Gold, for example, are suitable for an investment.

Bluestone Resources owns a high-grade gold project in Guatemala with its Cerro Blanco gold project - https://www.commodity-tv.com/play/bluestone-resources-update-on-cerro-blanco-and-political-situation-in-guatemala/. According to a current resource estimate (measured and indicated), the project contains approximately 1.4 million ounces of gold and five million ounces of silver in approximately 4.3 million tonnes of rock.

US Gold owns prospective projects in the Nevada gold country (Keystone, Gold Bar North, Maggie Creek) and the Copper King project in Wyoming (gold and copper) - https://www.commodity-tv.com/play/us-gold-acquisition-of-maggie-creek-pfs-for-keyhole-copper-deposit-in-2020/.

Latest corporate news and press releases from Bluestone Resources (https://www.resource-capital.ch/en/companies/bluestone-resources-inc/) and US Gold (https://www.resource-capital.ch/en/companies/us-gold-corp/).

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.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always 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. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also 
applies: https://www.resource-capital.ch/en/disclaimer/ 

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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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