It's getting more expensive - counter it with precious metals

It's getting more expensive - counter it with precious metals
(PresseBox) ( Herisau, )
The increase in consumer prices in Germany is enormous in August. There is a lot coming our way.

As reported by the Federal Statistical Office, in August the producer prices of commercial products rose more sharply than at any time since 1974, namely by a whopping 12 percent, compared with August 2020. The biggest price driver is energy, with an increase of 24 percent. Natural gas in particular stands out with a rate of change of 44.2 percent. So-called intermediate goods such as wood and steel also became more expensive. In 1974, there was an extremely sharp rise in prices due to the first oil crisis.

This development points to the conclusion that consumers should expect inflation to remain strong, as producer prices are virtually the early signs of inflation in the making. These price rises will also reach consumers, as they are incorporated into consumer prices with a time lag. They will then get less for their money. This is due to rising commodity prices and material shortages. The price collapse during the first Corona wave last year certainly also contributed to the enormous price increase this August. The European Central Bank believes that inflation is only temporary. That is why it does not want to intervene in monetary policy. Whether that is correct remains to be seen.

Especially now, when the gold price is rather weak, but will eventually rise again, gold investments are an important consideration, because gold stands for value retention, just like silver. Chesapeake Gold and Gran Columbia Gold, for example, have these value-preserving precious metals in their projects.

Chesapeake Gold - - has a highly prospective project in its Metates gold-silver-zinc property in Durango, Mexico. The preliminary economic assessment has been very positive.

Gran Colombia Gold - - produced more than 17,000 ounces of gold and nearly 18,000 ounces of silver at its Segovia mine in Colombia as of August 2021.

Current corporate information and press releases from Gran Colombia Gold (- -).

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