Uncertainties keep gold price up
2020 brought many challenges for mining companies with the pandemic. Major operations had to be reduced or temporarily shut down. But surveys of companies in the precious metals sector showed that the majority saw continued incentives for high precious metals prices, economic instability and fears of recession as positive drivers for the gold price. The gold price exceeded all forecasts.
And the uncertainties persist and act as a price catalyst. The current gold and silver cycle has been extended by stimulus measures and, according to unanimous opinion, should be far from over. After all, the world is full of debt. And central banks are still striving to drive inflation up by at least two percent. That inflation is rising would not be surprising, after all, 16 has become 19 percent VAT again and on top of that there is the carbon tax. This increases consumer prices, already visible at the gas station.
This all leads to further money multiplication and thus to a flight into the safe haven of gold. One could invest part of one's assets in shares of solid gold companies.
Maple Gold Mines - https://www.youtube.com/watch?v=QuxZIOYR5TA -, for example, is worth considering. Its Douay gold project in the Abitibi greenstone belt in Quebec has proven gold reserves and offers the opportunity for resource expansion.
Four wholly owned gold projects are held by Kore Mining - https://www.youtube.com/watch?v=JzpHxl9aP-U -, with the company focusing on its two projects in California. The projects in British Columbia will be spun off into a new company.
Current corporate information and press releases from Maple Gold Mines (https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd/) and Kore Mining (https://www.resource-capital.ch/en/companies/kore-mining-ltd/).
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.
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