Germans‘ hunger for gold expands

Since the 1950s, the U.S. has held the leading position in the world’s largest gold reserves. It is well known that gold stands for permanence and value. Wars were fought over gold, for example by the conquistadors in the 16th and 17th centuries. When it comes to the Deutsche Bundesbank and gold, there are exciting facts. The gold is completely physical and is stored in Frankfurt, London and in New York at the Fed. After the end of World War II, Germany had no gold reserves because the Reichsbank’s gold had been confiscated by the Allies. But then during the period of economic recovery, most of Germany’s gold reserves were built up. Current account surpluses and the Bretton Woods system led to a peak of 4,033 tons of gold in 1968. Today, gold reserves are shrinking as collector coins are produced and sold in gold. This is done by selling gold to the Federal Treasury.

Today, there are still countries, such as Spain, where gold as coins and bars is not so important for investors. In Spain, the state wants to ensure attractiveness so that the citizens put more private money on gold. Gold reserves in Spain amount to about $17 billion. At the end of 2021, Spain announced that it would issue an annual bullion coin (one ounce). Spain has just approved 40 million euros for an expanded supply of gold coins, compared to a maximum of ten million euros in the past. This is because demand had gone up sharply. In addition to physical gold, an investment in gold companies can also help against inflation and uncertainty, for example in Revival Gold or Skeena Resources.

Revival Gold – https://www.commodity-tv.com/play/revival-gold-pre-feasibility-study-coming-early-2023/ – is working full steam ahead on its Beartrack-Arnett gold project in Idaho. A soon to be completed pre-feasibility study will soon provide more details.

Skeena Resources – https://www.commodity-tv.com/play/skeena-resources-further-drilling-at-eskay-deeps-in-2023-updated-resource-coming-soon/ – is pleased to report expanded zones of mineralization at its Eskay Creek gold-silver mine in British Columbia. It has been producing previously.

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

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