Gold is becoming increasingly valuable

For chart technicians, it is important that the gold price remains above USD 2,470 on a sustained basis. New price records could then be set. This is supported by the fact that the mood among major speculators is becoming increasingly positive, a good development for higher gold prices. And the majority of experts expect gold prices to rise further.

Gold stands for wealth and prestige. In the past, it also had an important practical use. It served as security for currencies. But the gold standard was abolished. Today, gold is mainly used as an investment. The states are the biggest players in this field. The Bundesbank in Germany stores around 3350 tons of gold in the form of bars in its vaults, which is worth around 234 billion euros. In addition, there is the gold in private households, which is estimated to amount to more than 9,000 tons (gold bars and gold coins). Incidentally, Germany accumulated many of these bars in the 1950s and 1960s by exporting more goods than it imported. The Bundesbank exchanged the US dollars obtained in this way for gold when the gold standard was still in force.

Currently, around half of the Bundesbank’s gold is stored in Germany. The rest is stored in New York and London. In the past, larger quantities lay dormant in France, but this part was brought home. Today, international uncertainties and crises are causing many countries to buy tons of gold, mostly for hedging and diversification purposes. Gold provides stability in investments, but there is no interest. However, higher returns are possible with the values of solid gold companies when gold prices rise. Osisko Development or Revival Gold, for example, are convincing in this area.

Osisko Development – https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/ focuses on gold projects in the USA, Canada and Mexico.

Revival Gold – https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ – is one of the largest gold mine developers in the USA. The focus is on the Mercur gold project in Utah and the Beartrack-Arnett gold project in Idaho.

Current company information and press releases from Osisko Development (- https://www.resource-capital.ch/de/unternehmen/osisko-development-corp/ -).

In accordance with §34 WpHG, I would like to point out that partners, authors and employees may hold shares in the companies mentioned 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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