Gold demand 2021 in the recovery phase
For the current year, gold experts see recovering demand, which will support the gold price.
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Gold demand 2021 in the recovery phase
For the current year, gold experts see recovering demand, which will support the gold price.
If the economy grows, this drives jewelry demand. Bars and coins are seen as a long-term form of savings. Especially in times when macro factors are not as supportive of gold prices, physical demand can cushion gold prices. Of physical demand, jewelry, bars and coins account for about 70 percent. Jewelry demand in both developed and emerging markets is dependent on gross domestic product because, according to research, jewelry demand moves more than proportionally with income. If incomes now rise in the emerging markets, demand for physical gold also increases.
Jewelry purchases in the fourth quarter are typically around seven percent higher than in the first quarter. The situation is different in China. There, jewelry demand in the first quarter is around 24 percent higher than in the rest of the year. This is due to the Christmas season and the New Year holiday in China. Experience shows that demand for gold jewelry as well as bars and coins rise in quarters with particularly high inflation. This is probably due to the role of gold as a means of preserving value. In uncertain times, the appeal of the precious metal as a long-term store of value increases in the form of bars and coins, but also in the form of jewelry. Incidentally, passing on physical gold is particularly attractive where there are high income tax rates or also high inheritance taxes, for example in the USA. In 2021, jewelry demand weakened, while bars and coins were in strong demand. This year, demand for jewelry, bars and coins could show strength thanks to a recovering economy. This is positive for gold companies such as Calibre Mining and Condor Gold.
Calibre Mining is a mid-tier gold producer focused on North and South America. The debt-free company also has development and exploration projects that will provide further value.
Condor Gold - https://www.youtube.com/watch?v=kylBHygyO-Q - is active in Nicaragua on its prospective La India project. Gold production is expected to average about 157,000 ounces per year for the first two years.
Latest corporate information and press releases from Calibre Mining (
www.resource-capital.ch/en/companies/calibre-mining-corp/).
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