Big appetite for gold
Chinese took advantage of the Spring Festival vacation to stock up on gold jewelry and gold bars.
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For example, Chinese gold consumption rose a whopping 13 percent year-over-year this vacation week. This time of the year is a traditional peak season for gold consumption. Interestingly, however, non-gold consumption did not even come close to pre-pandemic levels. Winter Olympics gold and silver bullion was also popular. China recorded gold consumption of just under 1.121 tons in 2021, which was an increase of about 36.6 percent compared to 2020. Compared to 2019, the amount of gold was a good 11.8 percent higher. So, the trend in China is back to more gold. Looking only at gold jewelry, it was up nearly 45 percent year-over-year last year. For gold coins and bars, the increase was almost 27 percent.
It is not only in China that demand for gold is increasing again. The British mint, the Royal Mint, recorded an enormous run on physical gold and silver in the last quarter of 2021, even a record demand for gold bars. American investors were particularly eager to grab them. International sales were 14.4 percent higher in the fourth quarter of 2021 compared to the same month last year. Purchases of one-ounce Britannia bars and coins rose as much as 96 percent among American buyers. Record purchases are also occurring in the U.S. and Europe. All of this shows that gold and silver are in a buying frenzy right now. If private investors are worried about the global economic recovery, as the pandemic and its aftermath are also not yet out of the world, the values of gold and silver companies should not be ignored.
Maple Gold Mines - https://www.youtube.com/watch?v=V8f3dibYi68 - owns the Douay and Joutel gold projects in Quebec with partner Agnico Eagle. Infrastructure is excellent at both projects and drilling programs are underway.
Gold Terra Resource - https://www.youtube.com/watch?v=nMVbyxX92_U - is working on the Yellowknife City Gold Project in the Northwest Territories, it covers about 800 square kilometers and includes previously producing gold mines.
Current corporate information and press releases from Maple Gold Mines (
www.resource-capital.ch/en/companies/maple-gold-mines-ltd/) and Gold Terra Resource(
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