Gold smuggling on the rise – no wonder with the price

The 146 kilograms of gold, disguised as machine parts, were discovered in an airplane on its way to Japan. Customs made a find during the largest gold smuggling raid ever carried out there. Even though the gold was well camouflaged, shaped into parts and painted, it came to light. Ten percent import duty, i.e. around one million US dollars, was to be saved. Two other cases of gold smuggling involving significant amounts were also uncovered in Hong Kong. Hong Kong is one of the largest gold trading centers in the world. Gold prices at unprecedented levels are tempting for some.

So far, there have been no significant setbacks in the current gold price rally. Negative real interest rates are still a long way off; if this changes, then we should know more. A global recession is also not in sight. The journey of the gold price could therefore continue for some time to come. Fear of currency devaluations, geopolitical uncertainties, such as the recent problems between Israel and Iran, the high demand from central banks, these are all factors that have driven the gold price since mid-2022.

Chart technicians do see that the gold price is ripe for consolidation. On the other hand, gold ETFs have still not jumped on the bandwagon. In March, for example, there were outflows for the tenth time in a row. However, these were lower than in January and February. So, there should still be potential for higher gold prices. Investors can participate with physical gold or, including leverage, with the shares of gold companies. Victoria Gold or Collective Mining come to mind.

Victoria Gold – https://www.commodity-tv.com/ondemand/companies/profil/victoria-gold-corp/ – expects gold production from its Eagle Gold Mine in the Yukon to be between 165,000 and 185,000 ounces of gold in the current year.

Collective Mining – https://www.commodity-tv.com/ondemand/companies/profil/collective-mining/ – owns two gold projects in Colombia, Guayabales and San Antonio. Recent drilling at Guayabales has identified almost 29 grams of gold, 1,280 grams of silver and copper per tonne of rock.

Current company information and press releases from Collective Mining (- https://www.resource-capital.ch/en/companies/collective-mining-ltd/ -) and Victoria Gold (- https://www.resource-capital.ch/en/companies/victoria-gold-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.

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/