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St. James Gold Provides Commentary on Spot Gold Market Price Crossing $2,000/oz
Vancouver, British Columbia, March 07, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to offer
About this update from St. James Gold Corp
[{"type":"text","content":" Vancouver, British Columbia, March 07, 2022 (GLOBE NEWSWIRE) -- St. James Gold Corp. (the “Company”) (TSXV: LORD) (OTCQB: LRDJF) (FSE: BVU3) is pleased to offer commentary on recent developments in the gold market. In response to the developing geopolitical factors and growing inflation concerns, Goldman Sachs has affirmed that \"the recent escalation with Russia create clear stagflationary risks to the broader economy, driven by higher energy prices, which reinforce our conviction in higher gold prices in coming months and our $2,150/toz (troy ounce) price target.\" Spot gold traded at a high of just over $2,000 an ounce on Sunday, March 6th, 2022 as investors reacted to Russia intensifies military strikes in Ukraine. Goldman Sachs also stated that, “Gold's unique role as the currency of last resort will likely be apparent if restrictions on Russia's central bank accessing its offshore reserves leave it leveraging its large domestic gold stockpiles to continue foreign trade, most likely with China”. With the escalation of spot gold prices since the beginning of the year and currently pushing US $2,000 per oz, interest in the gold market has been gaining momentum. Increased uncertainty in the war in Ukraine and the potential for a drawn-out conflict has reaffirmed gold’s historical place as a hedge for investors. When combined with the decline of cryptocurrencies in recent months, gold is well positioned to increase its visibility for investors seeking diversification and safe havens. For the largest cryptocurrency, Bitcoin, its year-to-date performance is negative, and off 36.1%+ from its November 8, 2021 peak. As stated by George Drazenovic, CEO, St. James Gold, \"The future for gold looks very bright. With our advanced property and flagship Florin Gold Project in the Yukon Territory, we are well positioned to take advantage of the improving gold market. We are encouraged that valuations for junior resource companies will improve as media interest and bullish sentiments strengthen. The escalated spot price of gold is an important factor for junior gold exploration companies seeking financings, and we in particular look forward to building on the general market sentiment with many upcoming catalysts.” About St. James Gold Corp. St. James Gold Corp. is a publicly traded company listed on the TSX Venture Exchange ...