FN Media Group Presents Microsmallcap.com Market Commentary

NEW YORK, June 14, 2022 /PRNewswire/ -- On June 6, the World Gold Council reported that central banks were once again making net purchases of the precious metal, with global reserves up 19.4 tonnes in April. Central bank demand for gold has gained new attention this year due to ongoing conflict in Eastern Europe. As a result, Western nations, led by the United States, imposed significant sanctions. According to market analysts, the militarization of the US dollar could prompt some central banks to increase their gold holdings and diversify away from the US dollar. Lombardi Financial research analyst Moe Zulfiqar said that growing central bank demand could be the main driver behind the push in gold prices to $3,000 an ounce, which is good news for companies like New Pacific Metals Corp (TSX:NUAG) (NYSE:NEWP), AngloGold Ashanti Limited (NYSE:AU), Equinox Gold Corp. (TSX: EQX) (NYSE:EQX), Kinross Gold Corporation (TSX:K) (NYSE:KGC) and Barrick Gold Corporation (TSX:ABX) (NYSE:GOLD).