2020 - the year of the saver
When it comes to earnings, however, things don't look good. Germans are saving for all they're worth because they tend to be risk averse. Many shy away from putting money into shares. The savings rate was around 16 percent, compared with 10.9 percent in 2019. Compared with 2019, around 393 billion was added to savings in 2020. However, some catching up is expected in 2021. For example, DZ Bank expects a "post-Corona boom," which is certainly beneficial for the economy.
So although many citizens discovered ordering for themselves, consumption was reduced. Lockdown measures and concerns about loss of income were causal factors. It is a pity that the additional savings are simply sitting in accounts, because they are losing value. Inflation has been higher than interest rates over the last three years. In Germany, only around seven percent of financial assets are invested in shares. Stocks have not performed badly and there has been virtually no panic selling of stocks.
Last year, young investors in particular opened new securities accounts, a pleasing development. Whether this will continue will be seen in 2021. Here, the topic of retirement provision may have had an impact and made shares more attractive. A balanced stock portfolio would be good advice. In particular, the stocks of well-positioned gold companies should be included.
There's OceanaGold - https://www.youtube.com/watch?v=lcxM3ly04xE , an established mid-tier gold producer with projects in the U.S., New Zealand and the Philippines.
Fury Gold Mines' - https://www.youtube.com/watch?v=tN_tzUT_WcM - projects (Eau Claire in Quebec, Homestake Ridge in British Columbia, Committee Bay in Nunavut, Eleonore South JV in Quebec) have drilling programs underway or are being significantly expanded.
Current corporate information and press releases from OceanaGold (https://www.resource-capital.ch/en/companies/oceanagold-corp/) and 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.
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