Large Uganda gold discovery last month?

Buck Turgidson

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Apparently, Uganda has announced a huge new gold discovery last month.
https://www.reuters.com/article/uganda-gold-idUSKBN2NP17M

This brings up a number of questions:
- Is this real, or 3rd world BS?
- Has this been priced into the current gold price?
- Does anybody have any idea what this will mean for the price of gold moving forward?

JSKolache

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10:59a, 7/25/22

AG

Shocker: China's already in the middle of it

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Black Tooth Grin

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11:02a, 7/25/22

AG

3rd world BS.

They are looking for investors.

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Buck Turgidson

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In reply to Black Tooth Grin • 11:39a, 7/25/22

Black Tooth Grin said:
3rd world BS.

They are looking for investors.

There are a lot of videos claiming this could double the world supply of gold. I have a sneaking suspicion that they might be comparing the volume of gold bearing ore to the known world supply of refined gold (just a guess).

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Stat Monitor Repairman

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11:41a, 7/25/22

There's no way the gold market is free floating.

Look at Breton Woods, the BIS and why the Swiss were the last to go off the gold standard.

It's a crapshoot. There's no safe investment in the current environment.

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