Statistical view of gold

April brought price gains for the precious metal. A record price of just over 2,400 US dollars per ounce was recorded. Studies dating back to 1970 show that May was a varied month. Overall, however, it was the second most expensive month. It should also not be forgotten that an ounce of gold cost 1,803 euros a year ago. This is almost 20 percent less than today. This means that gold has made an enormous contribution to compensating for inflation. No wonder that gold is of great interest, for example to central banks.

The USA is the largest holder of gold, followed by the German Bundesbank (3,378 tons of gold). If the latter sometimes sells some gold, it is only to mint gold coins. Emerging countries in particular are stocking up their gold reserves. This is because they can use it to trade in international payments and influence the exchange rate, for example. Countries with very high levels of debt in particular, such as the USA, are increasingly relying on gold and less on dollar reserves. This is also a way of becoming less dependent on the dominance of Western financial policy. If a country has more gold reserves, it is less susceptible to sanctions.

Incidentally, China bought more gold last year than any other central bank. China increased its gold reserves by 225 tons of gold, which was around 25 percent of the total amount of gold purchased by central banks. It is generally expected that central banks will continue to increase their gold reserves. Major banks such as Goldman Sachs and Bank of America are forecasting a medium-term gold price of 2,700 to 3,000 US dollars per troy ounce. An investment in gold, especially in gold companies, could therefore still be worthwhile despite the high gold price. There is Tudor Gold or Chesapeake Gold, for example.

Tudor Gold – https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/ – owns the promising Treaty Creek project in British Columbia. It contains gold, silver and copper.

With its Metates project in Mexico, Chesapeake Gold – https://www.commodity-tv.com/ondemand/companies/profil/chesapeake-gold-corp/ – has one of the largest undeveloped gold and silver deposits in the world.

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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