Gold demand higher than ever

Gold demand higher than ever

According to the World Gold Council, global demand for gold is at an all-time high.

Gold is not only of great interest to central banks, but also increasingly to young and old. Demand for gold is currently higher than ever before, both in terms of tons and the value of the trading volume. Global demand for gold in the third quarter of 2024 was five per cent higher than in the third quarter of 2023 at 1,313 tons, exceeding USD 100 billion for the first time. It is noticeable that central banks often buy gold when it is "cheap". Others buy gold even when it is expensive. The fact that demand for gold from the jewelry sector is on the decline could not change the gigantic demand for gold in the third quarter. In the jewelry sector, the high price seems to be discouraging gold purchases. China recorded its worst third quarter since 2010, while the situation in India was different. Import duties were lowered here, which boosted gold purchases. Demand for gold for investments was particularly strong in the third quarter. This mainly relates to ETFs and securities. Industry also needs more and more gold. This includes electronic products such as smartphones and computer chips - keyword artificial intelligence. According to the World Gold Council, gold production could reach record levels. Geopolitical disputes and falling interest rates as well as the continued interest of central banks will probably continue to support the gold price and new record prices are possible. Short setbacks are normal and should be accepted calmly, because from a fundamental point of view everything actually speaks in favor of gold. Gold is stable in value over the long term. Mining companies with gold in the ground also deserve attention, for example Osisko Development or Revival Gold.

Osisko Development - https://www.commodity-tv.com/ondemand/companies/profil/osisko-development-corp/ - has earlier producing gold projects in its sights and is working on projects in Canada, Mexico and the USA.

Revival Gold - https://www.commodity-tv.com/ondemand/companies/profil/revival-gold-inc/ - is a pure gold mine developer in the west of the USA. The Mercur gold project in Utah and the Beartrack-Arnett gold project in Idaho are of particular interest.

Current company information and press releases from Osisko Development (https://www.resource-capital.ch/en/companies/osisko-development-corp/ ).

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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