Gold price above 1,900 US dollars

It is the expected smaller interest rate hikes by the Fed that are doing the gold price so much good. So, since November, the gold price has been at a high level. The strong downward movement of the U.S. dollar has also made gold more expensive. Another important aspect is that the Eastern central banks have exchanged US dollars for gold. For the first time in three years, the People’s Bank of China has announced that the share of gold in its foreign exchange reserves has been increased. More independence from the U.S. dollar is the goal. And China added 32 more tons of gold to its usual purchases in November. This was followed by another 30 tons of gold in December as well. China’s reserves include a large portion of U.S. Treasuries; these, too, can be sanctioned at any time. The U.S. government has sanctioned the Russian Central Bank’s reserves and removed Russia from the international SWIFT banking system in early 2022. So, gold bullion is a good way for various countries to reduce dependencies.

After all, the U.S. and the European Union have already put their hands on several hundred billion dollars and euros from the reserves of the central banks of Russia, Iran, Venezuela or Afghanistan, thus removing them from their grasp. Should the price of gold now continue to rise, say to $2,000 per ounce, mining stocks in particular, especially those of juniors, could experience a boom. High-quality gold mining companies could then also become the focus of speculative investors. If one tries to pick out promising gold mining candidates, one could look at Fury Gold Mines or Condor Gold.

Condor Gold’s – https://www.commodity-tv.com/play/mining-newsflash-with-uranium-energy-revival-gold-condor-gold-fury-gold-calibre-mining/ – flagship project is the La India gold project in Nicaragua (588 square kilometers and twelve contiguous concessions).

Fury Gold Mines – https://www.commodity-tv.com/play/mining-newsflash-with-uranium-energy-revival-gold-condor-gold-fury-gold-calibre-mining/ – is well financed and owns three properties in Nunavut and in Quebec. Among the very good drill results are gold grades with, for example, eight grams of gold per ton of rock.

Latest corporate information and press releases from Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/ -).

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