The uncertainty in the world
A deterioration in other asset classes in recent months is also strengthening the price of the precious metal. Currencies and energy prices went down. Not to forget that the global supply of gold is likely to be lower this year due to mining closures. This is because production and logistics problems have particularly affected the mining industry. Moving gold by plane alone was not easy.
Around 10 million ounces are expected to be affected and it could be even more. Gold coins and bars are in great demand and further shortages could arise. Basically, it is assumed that gold production will tend to go down in the next few years, the peak in production volume having already been reached. The mines are happy to process higher quality ore and store the lower quality ore. But at some point, these ore reserves will have to be processed. As a result, the gold content decreases.
Some mines have also rated their ore too high. All this will have an impact and will boost the gold sector and the price of gold. Geopolitical uncertainties, huge bailouts, economic crises and the vulnerability of supply chains should all continue to drive up the price of gold.
Gold companies such as Skeena Resources or Bluestone Resources are also profiting from the high gold price. Skeena Resources owns two formerly producing gold and silver mines, Eskay Creek and Snip, in the Golden Triangle in British Columbia: https://www.commodity-tv.com/play/newsflash-with-skeena-resources-canada-nickel-and-corvus-gold/. Eskay Creek already has a positive economic valuation.
Bluestone Resources is pleased to report encouraging drill results at its high-grade Cerro Blanco gold project in Guatemala: https://www.commodity-tv.com/play/newsflash-with-bluestone-resources-mawson-resources-ximen-mining/. Bluestone Resources also owns an advanced geothermal project there, already licensed for power generation.
Recent corporate news and press releases from Skeena Resources (https://www.resource-capital.ch/en/companies/skeena-resources-ltd/) and Bluestone Resources (https://www.resource-capital.ch/en/companies/bluestone-resources-inc/).
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