Markets

Black Friday and the gold

On the one hand it is about people who are happy to shop, but on the other hand also about the collapse of the gold market on 09/24/1869.

On Friday, September 24, 1869, two speculators bought a lot of gold, the price went up as desired, then the gold was sold again at the high price. And the two, Jim Fisk and Jay Gould, made big profits. The price for the coveted precious metal fell within three minutes from a good 160 to 133 US dollars.

A huge crash ensued, the US Treasury Department sold gold and the financial markets collapsed. Today many people understand Black Friday as just the beginning of the Christmas shopping season. The time around Black Friday is also a sign of how the retail sector is going. Online retail should do particularly well this year.

Getting involved in gold shouldn’t be a bad idea right now either. There are investment legends, such as Jim Rogers, co-founder of the George Soros Quantum Fund, who sees a disaster approaching. Because of the flood of money from the central banks and with the knowledge that heavily indebted countries did not have a good future in history. According to Rogers, commodities are a historic bargain for equity valuations.

Early this year, Rogers pointed out that precious metals like gold and silver serve as crash precautions if currency systems go down the drain. Everyone should therefore own gold as a kind of insurance.

Gold stocks in well-positioned companies should not be ignored either.

The medium-sized company could be considered OceanaGold – https://www.youtube.com/watch?v=pFJ3OgGjwJ0 -. The gold projects are located in the Philippines and the United States and are expected to produce an estimated 345,000 consolidated ounces of gold this year.

Also Fury Gold Mines – https://www.youtube.com/watch?v=he-HXzHsavE&t=16s – is in productive mining areas, namely in Canada, with exploration and development projects. The Eau Claire project in Quebec is currently undergoing a 50,000 meter drilling program to uncover further potential with target drilling.

Current company information and press releases from OceanaGold (- https://www.resource-capital.ch/de/unternehmen/oceanagold-corp/ -) and Fury Gold Mines (- https://www.resource-capital.ch/de/unternehmen/fury-gold-mines-ltd/ -).

In accordance with Section 34 of the WpHG, I would like to point out that partners, authors and employees can hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of these messages applies.

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