With the price of gold reaching one all-time high after another, even skeptics should be convinced that gold is worthwhile. Gold is much more than a speculative asset. Increasing tensions in the Middle East and the ongoing war in Ukraine are making the safe haven shine. The prospect of interest rate cuts is doing the rest to push up the price of the precious metal. And when interest rates fall, the price of gold is usually stronger – after all, there is no interest to pay. There are also gold experts who are advising against profit-taking even at the current high gold price. The rally could still continue. This makes one wonder what the true value of gold is. It is most convincing to see gold as what it has always been, a currency. Even in ancient times, gold was money. And until the First World War, all major Western currencies were backed by gold. From 1944, there was no longer complete gold backing, but important currencies were pegged to the US dollar, which in turn was pegged to gold. This Bretton Woods system remained in place until the 1970s. What is valuable is what is scarce, and gold is scarce. Paper money was greatly multiplied and therefore lost value.

The development of the gold price is definitely worth a look. In 1970, for example, a troy ounce of gold cost 37.60 US dollars. In 1980, the price of the precious metal exploded. Inflation was high and in 1980 an ounce of gold cost 850 US dollars. In 2000, the price was around 274 US dollars, followed by a price recovery. The US dollar was weak and in 2008 an ounce of gold cost more than 1,000 US dollars for the first time. Then came the banking crisis and in 2011 and 2012 the price rose to just under 1,800 US dollars. At today’s new all-time high, investors should no longer ignore gold and gold companies, because gold has stood the test of time.

Among the gold companies, Calibre Mining – https://www.commodity-tv.com/ondemand/companies/profil/calibre-mining-corp/ , a medium-sized gold producer active in the USA, Canada and Nicaragua, is a popular choice.

We also recommend Chesapeake Gold – https://www.commodity-tv.com/ondemand/companies/profil/chesapeake-gold-corp/ – with its Metates project in Mexico (one of the largest undeveloped gold and silver deposits in the world).

Current company information and press releases from Calibre Mining (- https://www.resource-capital.ch/en/companies/calibre-mining-corp/ -).

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