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China\-s hunger for gold is growing again





 

Corona reduced China\-s urge for gold in 2020. But in the previous year and now, the appetite for gold is on the rise again.

In 2020, China\-s gold demand slipped to a nine-year low, but in 2021, demand rose 55 percent compared to 2020, according to the World Gold Council. About 70 percent of gold in China goes into jewelry production. The remaining 30 percent becomes gold coins or bars. Lockdowns and travel restrictions caused China\-s demand to plunge 11 percent in the first quarter of 2022 compared with the previous quarter. Most forecasts are for weakened economic growth in China this year, which is not so good for gold prices. The signs from the second country that consumes a lot of gold, India, are better.

India is the largest importer of gold, while gold production in its own country is low. Also in India, most of the gold, about 77 percent, goes to the jewelry industry. In India, jewelry demand depends a lot on festivals and holidays. Therefore, the drop in demand in the first three quarters of 2022 was very high. However, demand in India should recover, the price of gold has fallen, and so gold consumption was also high in May. Compared to 2021, gold imports increased by 822 percent in May compared to the same month last year. In the process, India is expected to overtake China in terms of gold consumption. Encouraging figures are also just coming out of China. In June, significantly more gold found its way to China again, about five times as much as in the previous month. The reason for this is presumably the relaxed Covid 19 measures. Those who love gold as much as the Chinese and Indians can look around at well-positioned gold companies such as Fury Gold Mines or Aztec Minerals.

Fury Gold Mines – https://www.youtube.com/watch?v=iPcFnyi7i3M – is committed to excellent areas with prospective projects in British Columbia and Nunavut.

Aztec Minerals – https://www.youtube.com/watch?v=470uITYna_E – holds a 100% interest in the Cervantes porphyry gold-copper project in Mexico. In addition, there are the historic Tombstone properties in Arizona with gold, silver, lead and zinc.

Latest corporate information and press releases from Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/ -).

In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.

Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 – 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/





Posted by on 1. August 2022. Filed under Internet, Picture Gallery. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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