Now everything becomes more expensive
In September 2021, for example, consumer prices rose by 4.1 per cent compared with the same month last year. This is a bitter pill for consumers and savers. High energy prices are the main culprit, with demand for crude oil having risen significantly. So, for consumers the euro is worth less, you can buy less with it and savings accounts are also losing value. In the Eurozone as a whole, inflation is marking a 13-year high. The inflation rate was found to be 3.4 percent. Compared to September 2020, core inflation in the eurozone rose to 1.9 percent. In the previous year, it was 1.6 percent.
As the Commerzbank subsidiary Comdirect has calculated, the real interest rate (interest on savings deposits after deduction of the inflation rate) in Germany is now at a historic low of minus 3.82 percent. From January to September, German savings deposits have lost approximately 47 billion euros in value. As many experts would have the citizens believe, this development is only temporary and due to Corona special factors, we will see. In any case, at the moment we have to live with it. If high inflation and negative interest rates remain, the gold price should break out to the upside. That hasn't happened yet, although gold is seen as a hedge against inflation and a safe haven in times of crisis. Now is the time to position oneself with gold investments before gold becomes expensive.
This is possible with gold mining stocks, for example Fury Gold Mines - https://www.youtube.com/watch?v=bfEJaSmPGxg. The company's projects in Quebec, Nunavut and British Columbia contain several million ounces of gold in the ground.
Aguila American Gold's - https://www.youtube.com/watch?v=XkYjo1T4diE - Wusa gold project in Oregon also looks promising. The property comprises about 70,000 hectares of land.
Latest corporate information and press releases from Fury Gold Mines (https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/).
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