Mr Yao' s foresight is right because this is a step in the  right direction considering that gold will be a very valuable commodity in the years ahead. Inflation is already here and it will get worse. The world is entering into a stage of slow growth or no growth with each rising covid case all over the world, Central banks, investors and money managers will need to have gold in their portfolio to hedge against rising inflation.ETF(gold) is also buying in. 

 

Exploring for gold is a complex, scientific and time consuming process. Only one in 3000 discoveries lead to mine development and only 10 percent of the world' s gold deposits contain enough gold to be feasible to mine. Exploration can last from a couple of years to even decades. It is like striking TOTO when you manage to find one. From all the hints given, most likely they have already found gold at the new Tarnagulla gold site.

 

For the past two years, countries have been printing and printing all the fiat money(with no asset backing). America printed 6-7 Trillions and all these will definitely have consequences. It is a matter of time, you can' t get away from all this printing and where all this money goes to. Not to create more jobs, but to their stock market. That is why you see Dow Jones, S & P and Nasdaq going higher and higher and why the US dollar index is still so high. This is because money follows money, all the money from all over the world is flowing into the US stock market. When there is a demand, the money goes up. 

 

But, this cannot go on forever, surely one day the mother of all bubbles(US market, other  markets  not so as they have not gone up too much) will pop and you will see people starting to run for the exit. This  is where the US dollar will weaken.and gold will rocket up.

 

From what I can see, this day will come and it is not very far away because people will wake up and realise that this is not sustainable considering the state of the economy.