US dollar increasingly unpopular – gold increasingly popular

The USA and its allies have frozen Russian assets. And they have excluded Russia from the SWIFT financial system (Society for Worldwide Interbank Financial Telecommunication). The Swift system serves as a global financial messaging service and simplifies cross-border payments. In 2023, more than a few central banks expressed concern that the US and its allies had frozen almost half of Russia’s gold and foreign currency reserves. Central banks are now happy to buy gold.

According to a survey by the World Gold Council, 29% of central banks plan to increase their gold reserves in the next twelve months. In 2023, central banks have fueled the demand for gold and the World Gold Council is not alone in assuming that this will continue. Because the world has not become a safer place this year. Gold is the ultimate remedy for crises, providing a store of value and diversification. 2022 was a decade record for central bank gold rushes and 2023 was only 45 tons less than 2022. The US dollar is losing status and value, while gold is becoming more and more expensive. Gold companies such as Fury Gold Mines or Collective Mining should be pleased.

Fury Gold Mines – https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ – focuses on Nunavut and Quebec. More than 12 grams of gold per tonne of rock have already been identified at the Eau Claire project.

Collective Mining – https://www.commodity-tv.com/ondemand/companies/profil/collective-metals-inc/ – is a copper, silver, gold and tungsten exploration company operating in Colombia.

Current company information and press releases from Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/ -) and Collective Mining (- https://www.resource-capital.ch/en/companies/collective-mining-ltd/ -).

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