The central banks’ goal is to counter inflation. There is still a long way to go to reach the desired two percent. The Bank of England, for example, has raised its key interest rate to five percent, making it the 13th increase in a row. There have also been interest rate increases in Switzerland, Turkey and Norway. Gold had to give way in terms of price, silver even more. At the same time, bond yields are rising, which is not so good for the gold price either. In the long term, however, according to many analysts, the gold price should win. Because aggressive increases in interest rates always carry the risk of recession. And this looming global recession should support the gold price.

The fact that physical gold is still very popular can be seen in South Korea, for example. There, the precious metal can be bought from vending machines, and this is being used heavily. Physical gold is an investment that is appreciated by many. It is well known that central banks have been eagerly increasing their gold reserves for some time.

Recently, for example, Poland has reached a record level in terms of gold reserves. Among the buyers in May were also the Central Bank of India, the Czech National Bank as well as Russia and Kyrgyzstan. Currently, it looks as if the gold price will move sideways again, but even if it should still go downhill a bit, gold investments score points in the longer term. This includes investments in gold companies such as Skeena Resources or Maple Gold Mines.

Skeena Resources – https://www.commodity-tv.com/ondemand/companies/profil/skeena-resources-ltd/ – is working to revitalize the formerly producing Eskay Creek gold-silver mine in British Columbia’s Golden Triangle.

Maple Gold Mines – https://www.commodity-tv.com/ondemand/companies/profil/maple-gold-mines-ltd/ – is working with Agnico Eagle on two gold projects in Quebec. Agnico Eagle still has sole ownership of the Morris project in Quebec.

Current corporate information and press releases from Skeena Resources (- https://www.resource-capital.ch/en/companies/skeena-resources-ltd/ -) and from Maple Gold Mines (- https://www.resource-capital.ch/en/companies/maple-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.

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