The gold rush continues
(PresseBox) - ?
Last year, central banks bought more than 1,000 tons of gold for the third time.
Poland has increased its gold reserves the most, according to the World Gold Council. The accumulation of gold by central banks reflects the strategy of diversifying reserves and hedging. These buying activities support the price of the precious metal. This creates a favorable backdrop for gold as an investment. On the supply side, total gold production is set to rise to a record level of almost 5,000 tons in 2024. Recycling and higher mine production are responsible for the increase. At 3,661 tons, mine production may have peaked last year, after which global production figures are likely to fall, if long-term supply figures are to be believed. Some analysts are also predicting that gold production will peak in 2026. New discoveries are declining and costs in the mining industry (labor costs and maintenance costs) are also rising. The average all-in sustaining costs for gold mine operators rose to a record USD 1,456 per ounce in the third quarter of 2024. There has been a slight slowdown in exploration budgets compared to 2022.
However, as budgets are still high, above average, because gold prices are high, gold mining companies can invest and thus attract investors. The fact that many companies in the gold sector are still undervalued should give investors pause for thought. And since gold will continue to be important for portfolio diversification in the future, investors should take a look at Fury Gold Mines or Chesapeake Gold, for example.
Chesapeake Gold - https://www.commodity-tv.com/ondemand/companies/profil/chesapeake-gold-corp/ - has the very large Metates gold and silver project in Mexico. There is also the Talapoosa project (gold and silver) in Nevada and the Lucy project in Mexico.
Fury Gold Mines - https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ - owns projects in Quebec and Nunavut, a multi-million-ounce gold platform and a 51 million common share position in Dolly Varden Silver Corp.
Current company information and press releases from Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-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.
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/
Unternehmensinformation / Kurzprofil:
Datum: 25.02.2025 - 01:20 Uhr
Sprache: Deutsch
News-ID 718153
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"The gold rush continues"
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