Development of the global gold market
The World Gold Council has just released new figures on what is happening in the gold market worldwide
Investors invested more in gold last year than ever before. Consumers, on the other hand, saw jewelry demand plummet to its lowest level since 2009. That's because gold was expensive, and lockdowns and economic downturns did the rest. Central banks bought about 59 percent less gold in 2020.
Investors invested 40 percent more in gold for this purpose compared with the previous year, a new record. Most of this went into gold ETFs, some into bars and coins. On the supply side, there was a drop of around four percent in 2020. Disruptions at the mines due to the pandemic were also to blame. Looking at 2020 as a whole, the gold price rose by 25 percent.
So after the gold price has an extreme 2020 behind it, the beginning of the year was volatile. For investors, of course, the question is what will happen next. If you look at the voices of the banks and analysts, it will go up with the gold price and also with the silver price. Many also assume that we are currently at the beginning of the seventh commodity bull market in 225 years. Real interest rates will remain negative, central bank monetary policy will remain supportive, and the effects of the pandemic will continue for some time, as will rising inflationary pressures.
Gold in the ground is owned by well-positioned gold companies such as Filo Mining - https://www.youtube.com/watch?v=qwBCH2_HRv0. Five drill rigs are exploring the Filo del Sol deposit (gold, silver, copper) in Chile's Region III and the adjacent San Juan province in Argentina.
In Nevada, Ridgeline Minerals' - https://www.youtube.com/watch?v=ZYLoW2ReKc4 - portfolio includes four Carlin-type gold projects, the Carlin-East project, the Swift gold project in the Eureka trend, the Selena property and the Bell Creek project.
Latest corporate information and press releases from Filo Mining (https://www.resource-capital.ch/en/companies/filo-mining-corp/).
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