Gold and big holidays
One of the reasons for a rising gold price at the beginning of the year is certainly the increased purchase of gold jewelry. This is because Valentine's Day is approaching in the USA - which is like Christmas for jewelers in the USA. Around six billion U.S. dollars are invested in jewelry.
And in China, the New Year arrives, this time on February 12. The reason for the deviation from us is that the Chinese follow the lunar calendar. The Year of the Ox, which stands for strength, endurance and straightforwardness, is upon us in China this time. On New Year, sales of gold and silver jewelry in China rise sharply. Jewelers prepare and order jewelry or make it themselves. Gold and silver are therefore in greater demand, which drives up the price.
In 2020, jewelry demand dropped sharply, by 46 percent in the first half of 2020, according to the World Gold Council. But now jewelry demand is expected to rise again, especially in emerging markets. Gold-backed index funds should also continue to see strong investor interest. After all, fears of further sovereign debt and higher inflation rates remain. If then still the central banks strengthen their gold purchases, then nothing should stand in the way of a rising gold price. And as we can see these days, gold and silver can also rise when the U.S. dollar appreciates.
An investment in gold shares is not to be missed. For example in Ximen Mining - https://www.youtube.com/watch?v=lauHNuCYADI. The company's projects are located in British Columbia: the Brett, Amelia, Kennville and Gold Drop gold projects. The Treasure Mountain silver project is also part of the portfolio.
Kore Mining - https://www.youtube.com/watch?v=JzpHxl9aP-U - spins off its two projects in British Columbia into the new Karus Gold. Kore Mining's focus is now on the two remaining projects in California.
Latest corporate information and press releases from Kore Mining (https://www.resource-capital.ch/en/companies/kore-mining-ltd/).
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