The USA has one of the largest gold reserves in the world. The government sees it as a strategic asset. This is probably because they can create money, but not gold. As speculator, founder and chairman of Casey Research so aptly put it recently, "Gold needs the government about as much as a fish needs a bicycle". Gold is money and it is by no means superfluous in the face of fiat currencies and central banks. And so, governments have bought large quantities of gold in recent years and are still doing so. The US dollar is no longer as popular as it used to be, and it has no backing as it did until 1971. And so many countries are now abandoning the US dollar and turning to gold.

The question of whether the 261 million ounces of gold are really stored at Fort Knox is still unresolved. It could be significantly less. In 1933, the US government confiscated gold coins and melted them down. They consisted of 90 percent gold and 10 percent copper. An actual verification of the amount of gold and its purity at Fort Knox is still pending. Gold is also stored at the New York Fed. However, the vaults beneath Manhattan’s streets do not contain US reserves, but gold held by other countries and central banks. Exactly who owns it is not known. The global financial situation is not particularly stable. Gold is the only financial asset that is not also someone else’s liability. Buying gold, even if it has risen considerably in price, should therefore still be a good idea. The same applies to the stocks of gold companies.

Fury Gold Mines – https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ – has promising projects in Quebec and Nunavut.

Sierra Madre Gold and Silver – https://www.commodity-tv.com/ondemand/companies/profil/sierra-madre-gold-silver/ – has gold projects in Mexico. The La Guitarra project reached commercial production on January 1 and is generating revenue.

Latest company information and press releases from Sierra Madre Gold and Silver (- https://www.resource-capital.ch/en/companies/sierra-madre-gold-and-silver-ltd/ -) 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.

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