Finding gold in New York

It was not the first television report recently to deal with the question of whether gold and even precious stones can be found on the streets of New York, preferably in the Diamond District of Manhattan. The Diamond District is the jewelry district where jewelry stores, goldsmiths, gem cutters and diamond dealers line up. Do they actually carry gold dust out of the stores every day? At least that’s what an online community of gold seekers claims. On their knees and armed with hand brooms, they search for gold here. It’s not all that rewarding, it’s more for fun, but a little bit can be found.

Gold is created in a special journey; it comes from deep within the earth. Hot fluids rise from the earth’s mantle, travel through cracks and transport dissolved gold with them. Gold can also accumulate through magmatic processes. When the magma cools down, the gold-bearing mass crystallizes. There are many different types of gold in the USA, such as gold flour (very small), which can provide indications of nearby larger gold deposits. Visible gold is usually rough, not smooth. Then there are the so-called gold pickers, pieces of gold shaped by time and water like small sculptures. Each one has a unique shape.

The stars of gold prospecting are of course the nuggets, i.e. larger pieces of gold, but they are rare. Not even two percent of the gold found are nuggets. Some have become famous because of their size. There is also wire gold and sponge gold, which is named after its shape. A good option for investors are the stocks of companies whose profits are based on gold. These include royalty companies such as Osisko Gold Royalties or Gold Royalty for those looking for diversification and not just wanting to invest in one company.

Osisko Gold Royalties – https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-royalties-ltd/ – focuses on gold and copper. The rich portfolio is geared towards North America. It shines with a royalty on the Canadian Malartic Complex, one of Canada’s largest gold mines.

Gold Royalty – https://www.commodity-tv.com/ondemand/companies/profil/gold-royalty-corp/ -, active in South and North America, is a royalty and streaming company focused on precious metals. The company achieved record sales in the first nine months of 2024.

Current corporate information and press releases from Osisko Gold Royalties (- https://www.resource-capital.ch/en/companies/osisko-gold-royalties-ltd/ -) and Gold Royalty (- https://www.resource-capital.ch/en/companies/gold-royalty-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.

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