Calculated in euros, the precious metal has generated an annual return of 9.7 percent over the past 20 years. In 2000, a fine ounce of gold cost around 300 U.S. dollars. In 2010, it was already around 1,000 U.S. dollars per ounce, with inflation at less than 1.5 percent at that time. Currently, we are at just under 1,900 U.S. dollars per ounce of fine gold. This clearly shows that over the longer term, gold investors win. The situation is different with paper money, where there is no increase in value, plus higher inflation. Consequently, the purchasing power goes down. It is always pointed out that everyone should provide for their own retirement, not an easy undertaking.
Currently, the gold price pleases investors less. Last week, the price of the precious metal fell for many months briefly even below 1,800 U.S. dollars per troy ounce. The cause was certainly the outflows in gold ETFs, which totaled 58 tons in the last three weeks. And in general, a strong U.S. dollar and higher yields are not conducive to the gold price. Still, the movements in the gold price seem exaggerated. After all, by and large, gold is one of the best performing assets and should remain so in 2022. Price-driving factors that could soon push the gold price back in the other direction are present. These include economic expansion, uncertainties and risks. Investment demand will pick up again and then it will be worthwhile to stay with gold investments or to use weak phases for an entry. Among the promising gold investments are Fury Gold Mines and GCM Mining.
Fury Gold Mines - https://www.youtube.com/watch?v=p8HSFGdXx0g - has high-grade projects in Nunavut, Quebec and British Columbia.
GCM Mining - https://www.youtube.com/watch?v=Cygvde0ucEA - is already a medium-sized gold producer with its Segovia operations in Colombia. Last year, more than 200,000 ounces of gold were produced there.
Latest corporate information and press releases from Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/ -) and GCM Mining (- https://www.resource-capital.ch/en/companies/gcm-mining-corp/ -).
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