Found this article from last year that says otherwise.
But the East African nation itself is not rich in resources. Much of this gold comes from neighboring countries, spirited across the border by shadowy smuggling networks. Uganda’s central bank estimated in 2019 that only about 10 percent of the gold flowing out of Uganda was actually mined in the country
Agree with whatchamacallit that the story is probably way off in some way. Ugandan miners having found more gold that what currently exists (mined, above ground, etc.) doesn't pass the sniff test... along the lines of, "Did I say 320,158 tonnes? I meant 3.20158 tonnes. My bad!!"
Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore.
Could be
My understanding of gold mining is that the extractability of gold varies. So they may be saying that if money was no object, they could extract that much. But how much is economically viable for extraction is another matter.
Recieved a “random year” sale krug in the mail which turned out to be a shiny 2022.
Still, I wouldn’t have ordered it if I had known so many surprise expenses would pop up this season. Joys of home ownership.
I can see two things that are negatively impacting the GOLD Price: Bitcoin & the USD. A lot of Folks think that Bitcoin is Digital Gold (NOT) and the strong dollar is a well known historical headwind for the 'Barbarous Relic'.
dualstow wrote: ↑Tue Nov 08, 2022 10:06 am
Wow, when did gold creep up into the 1700s
On the downside...bonds, stocks and gold are all moving in lock step. As of late we are getting zilch diversification.
Had to bring in some shade on the little ray of light I introduced. :-)
Bonds still should go down if the feds keep bumping up the rates. And if other components stay the same or go up, there will be a chance to rebalance and buy more LTTs. I'm at 16.8% for those, pretty close to 15%. Probably sometimes before February?
www.allterraininvesting.com 
