The winners of a low gold price

Since March, the price of gold for the Chinese has gone down by more than 17 percent. For China, the world’s largest gold consumer, this is of course a good time to buy. The country is still in the midst of a pandemic resurgence. So, things could get better in the long run. Because when the festival season starts, retail sellers will also need gold again. According to a representative of China Gold Group’s flagship store, the number of consumers asking for gold bars has increased to almost double. Sales volume has gone up by 20 percent.

According to data from the World Gold Council, gold withdrawals from the Shanghai Gold Exchange totaled about 140 tons in June, up 37 tons from May and up seven tons from a year earlier – a significant increase. Gold prices have also been adjusted seven times since June as they have declined internationally. Government and corporate financing by central banks has been extremely high, partly in the shadow of the Corona crisis. As a result, many analysts have raised the target price for gold to as high as $2,000 per troy ounce. Due to the lack of investment alternatives, it is advisable to remain invested in gold, silver and precious metal stocks or to enter them. In the case of gold company stocks, it is worth taking a look at Skeena Resources or Revival Gold.

Skeena Resources – https://www.youtube.com/watch?v=uByunotmKIw – is reviving the formerly producing Eskay Creek gold-silver mine in British Columbia’s Golden Triangle. A full feasibility study is due this year.

Revival Gold – https://www.youtube.com/watch?v=d24jQVrtkKE – is taking care of the Beartrack-Arnett gold project in Idaho. This project was once the largest gold producing mine in Idaho.

Current corporate information and press releases from Skeena Resources (- https://www.resource-capital.ch/en/companies/skeena-resources-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/