Large gold reserves
Not only private investors, but also central banks know how important gold is
(PresseBox) - Central banks officially hold around 36,000 tons of gold. The USA has the largest gold reserves, followed by Germany. And since 2009, the central banks have been gold buyers in total. At the end of March 2022, China had around 1,776 tons of gold, although it is questionable whether the official figures indicate the true size of the gold hoard. The U.S. brings it to just over 8,133 tons of gold at the same time. China s foreign exchange reserves, on the other hand, fell to about $3.2 trillion at the end of March compared with February.
Countries hoard gold to hedge against economic disasters or currency problems. Even though the U.S. holds significantly more gold, China is in a strong position due to its significantly higher foreign exchange reserves. This is because the U.S. has relatively low foreign exchange reserves. In any case, in 2021, central banks bought about 82 percent more gold than in the previous year. Gold is popular everywhere, as can be seen from the current high gold price of close to 2,000 U.S. dollars per troy ounce. According to various banks, gold investments should not be disregarded now. For example, analysts at SocGen Bank expect a significant upward price breakout for the precious metal in the next three months. Because high inflation and low interest rates speak now times for rising gold prices. According to the analysts, the yellow metal could even reach USD 2,200 per ounce in the second quarter. So it s time for gold investments in companies like GCM Mining or Karora Resources. GCM Mining - https://www.youtube.com/watch?v=Sr5GaectIig&t=533s - is a successful gold producer in Colombia with its Segovia property. Karora Resources - https://www.youtube.com/watch?v=kW5xpyL3OKE&t=3s - is also extracting gold from its mines in Western Australia. It aims to produce just over 200,000 ounces per year by 2024.
Current corporate information and press releases from GCM Mining (https://www.resource-capital.ch/de/unternehmen/gcm-mining-corp/) and Karora Resources (https://www.resource-capital.ch/de/unternehmen/karora-resources-inc/).
In accordance with ?34 of the German Securities Trading Act (WpHG), I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.
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Datum: 21.04.2022 - 04:03 Uhr
Sprache: Deutsch
News-ID 658766
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