Gold stands out as the commodity with the greatest confidence in short-term upward movements, according to the global financial services provider. Goldman Sachs has also issued a long trading recommendation for gold. Fears over sovereign debt, the impending interest rate cuts and US financial sanctions will continue to fuel central bank gold buying. Gold represents a significant hedge in the portfolio. It is not surprising that the USA, as the richest nation and largest economy in the world, owns the most gold. However, the gold is not where you would expect it to be, namely at the US central bank. We always hear from the media that the US central bank stores the most gold. It is said to be 8,133 tons. Most of this treasure is stored in Denver, Fort Knox and West Point. The rest is used to mint coins.
According to the Board of Governors of the Federal Reserve System, the Federal Reserve has not held any gold since 1934. How can that be? The U.S. gold holdings do not include the gold that is stored "under reserve" at the Federal Reserve banks. The fact is that each of the Federal Reserve districts has its own bank. In 1934, the Fed turned over all of its gold in exchange for gold certificates, so it does not own any gold. Under the Gold Reserve Act of 1934, ownership of all the gold in the Federal Reserve System had to be transferred to the Treasury Department. The gold certificates issued for this purpose are denominated in US dollars. But now to the modern era and the international monetary authorities: in the early 1990s and 2000s, central banks sold gold. Since 2010, central banks have been net buyers of gold. Just as central banks love and accumulate gold today, private investors should also hedge with gold investments. Well-positioned gold companies include Calibre Mining and Fury Gold Mines.
Calibre Mining - https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ - is a medium-sized gold producer focused on North and South America.
Fury Gold Mines - https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ - is on the move in Nunavut and Quebec. The Eau Claire project has just identified more than 12 grams of gold per tonne of rock.
Current company information and press releases from Calibre Mining (- https://www.resource-capital.ch/en/companies/calibre-mining-corp/ -) and Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-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/
According to the Board of Governors of the Federal Reserve System, the Federal Reserve has not held any gold since 1934. How can that be? The U.S. gold holdings do not include the gold that is stored "under reserve" at the Federal Reserve banks. The fact is that each of the Federal Reserve districts has its own bank. In 1934, the Fed turned over all of its gold in exchange for gold certificates, so it does not own any gold. Under the Gold Reserve Act of 1934, ownership of all the gold in the Federal Reserve System had to be transferred to the Treasury Department. The gold certificates issued for this purpose are denominated in US dollars. But now to the modern era and the international monetary authorities: in the early 1990s and 2000s, central banks sold gold. Since 2010, central banks have been net buyers of gold. Just as central banks love and accumulate gold today, private investors should also hedge with gold investments. Well-positioned gold companies include Calibre Mining and Fury Gold Mines.
Calibre Mining - https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ - is a medium-sized gold producer focused on North and South America.
Fury Gold Mines - https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ - is on the move in Nunavut and Quebec. The Eau Claire project has just identified more than 12 grams of gold per tonne of rock.
Current company information and press releases from Calibre Mining (- https://www.resource-capital.ch/en/companies/calibre-mining-corp/ -) and Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-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/
