Stewardesses are now smuggling gold

On a flight from Muscat, Oman to Kannur airport, the Air India Express flight attendant was caught with a kilo of gold – around 32 ounces. Gold smuggling to India is a lucrative business, even if there is a risk of arrest. High import duties and the demand for cheap gold are the reasons behind this. After all, India is the second largest consumer of gold. Most of the gold smuggled into India comes from Dubai. Recently, Oman and Singapore have also become increasingly interesting for the lawbreakers. In 2021, an American Airlines stewardess was arrested smuggling gold, cash and jewelry on her way from Argentina to Miami.

There is good money to be made in gold, both illegally and legally. The head of the ECB, Christine Lagarde, has now announced an interest rate cut of 25 basis points. And falling interest rates are normally seen as an advantage for the gold price. Gold should remain in buy mode, although a new bull signal could do no harm. In any case, the fight against inflation is also likely to take some time, which should also have a favorable effect on the price of the precious metal.

Investors will then prefer to sell US dollars and stock up on equities, bonds and gold. If there are increasing signs of an economic slowdown in the USA, the US Federal Reserve should counter this with a few interest rate cuts this year. Even if the Fed delays the first rate cut, interest rates could fall quickly. In any case, the gold price has also shown stability recently, even when the US dollar has been strong and bond yields have risen. This is where investments in gold companies come into play.

Revival Gold – https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ – is not to be sneezed at. The company owns the largest formerly producing gold mine in Idaho.

Osisko Development – https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/ – is also focusing on earlier producing projects. The company is developing a gold project in Canada, one in the USA and one in Mexico.

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

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