Gold as a store of value - an option recognized worldwide
(PresseBox) - Whether Russian citizens or the U.S. state of Missouri, the value of the precious metal is rising in these uncertain times.
Russian citizens had a record year in terms of gold purchases last year. The five largest Russian banks sold about 57 tons of gold, but it could have been 64 to 67 tons. Here, the abolition of taxes on the purchase and sale of gold and an appreciation of the ruble were probably driving forces. Buying real estate became less attractive, so Russians put their money into gold. This trend, it is predicted, will continue this year.
In the U.S., in Missouri, legislation is seeking to treat gold and silver as money rather than commodities. Gold is to be a means of payment, state capital gains taxes on gold and silver are to be abolished, and a state precious metals depository is to be established. This would make gold and silver equal to Fed bills and make Missouri the fourth state (after Utah, Wyoming and Oklahoma) to recognize precious metals as legal tender. Missouri brings to 41 the number of states that do not impose a sales tax on gold and silver bullion. The Fed's monopoly on fiat currency, which allows the Fed to print money on a large scale, is thus being eroded. Pricewise, gold has come back a bit, but at the same time, a period of disinflation (decline in inflation) seems to have begun. This means that interest rate cuts are increasingly moving into the realm of possibility in the foreseeable future. This is good for the precious metal prices, thus also for gold and silver companies, which get the valuable metals from the earth, therefore briefly a look for example at Caledonia Mining and Maple Gold Mines.
Caledonia Mining's - https://www.commodity-tv.com/play/mining-newsflash-with-caledonia-mining-canada-nickel-skeena-resources-and-labrador-uranium/ - Blanket gold mine in Zimbabwe generated record gold production of more than 80,000 ounces last year. The involvement of local investors has given the project acceptance.
Maple Gold Mines - https://www.commodity-tv.com/play/maple-gold-mines-published-excellent-drill-results-and-is-targeting-a-resource-of-5-million-oz-gold/ - is working with partner Agnico Eagle Mines on two gold projects in Quebec in the Abitibi greenstone gold belt, the infrastructure is excellent as are the drill results to date.
Current corporate information and press releases from Maple Gold Mines (- https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd/ -) and Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-mining-corp/ -).
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: 16.02.2023 - 08:37 Uhr
Sprache: Deutsch
News-ID 677298
Anzahl Zeichen: 4745
contact information:
Contact person: Jörg Schulte
Town:
Herisau
Phone: +49 (2983) 974041
Kategorie:
Financial Services & Insurance
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