InvestorsHub Logo
Followers 20
Posts 7168
Boards Moderated 0
Alias Born 03/02/2013

Re: None

Tuesday, 03/14/2023 12:04:03 PM

Tuesday, March 14, 2023 12:04:03 PM

Post# of 1715
Eric Sprott, Sabre Gold Mines needs mORE financial support NOW!

We know that Eric Sprott has been very supportive of Sabre Gold Mines via PDAC etc... and to get the Copperstone High-Grade Gold Mine into production mORE money is needed so... Any form of support now would or will be greatly appreciated!

"... “Strong buying from China’s ‘official sector’ (possibly any combination of the People’s Bank of China, central bank-related entities or state banks) peaked in late January — just before the Lunar New Year — and has not resumed, but there is no indication of selling,” noted Sprott market strategist Paul Wong in a blog post. “Some profit-taking was observed from Shanghai trading desks but paled in size compared to demand from the official sector. We may see buying from other central banks, but that data will not be available for a few months.”

As mentioned, central banks have been buying gold in record amounts. The blog mentioned that central banks purchased 417 tons in the fourth quarter of 2022, while data for the third quarter was revised higher to 445 tons from 399 tons — in the blog, Wong mentioned that the average quarterly purchase since 2013 was 128 tons, so 2022’s Q3 and Q4 figures were over three times that average.

The blog also noted that the primary reasons for central bank buying was the “need to diversify reserves due to sanctions risk, the poor performance of sovereign bonds in the face of high inflation, a desire for outside money and the de-dollarization process.” Furthermore, gold in and of itself provides an ideal inflation hedge, particularly in times like now where the Fed acknowledges that inflation could stick around for some time.

“Gold helps to diversify portfolios and reduce exposure to currency and market risks,” the blog added further. “Gold is also a symbol of monetary stability, value and credibility to the public and other central banks. Holding gold as a reserve remains a widely accepted practice among central banks worldwide.”..."
Day Range:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 3M
  • 6M
  • 1Y
  • 5Y
Recent SGLDF News