Gold demand in the gold jewelry and industrial sector
After the pandemic crisis, gold demand has partially recovered. This is because the first quarter of 2020 was historically weak, according to the World Gold Council. The same period in 2021 saw a 52 percent increase. The lower gold price in the first quarter of 2021 was certainly helpful. China and India in particular have bought, the level before Corona is still distant. Looking at the last five years, the average quarterly demand has not yet been reached. On the other hand, the decline in the first quarter of 2021, which happens anyway from a seasonal perspective, was much smaller than in recent years. In terms of the value of gold jewelry, January to March 2021 was well above the average of recent years.
Another sector that consumes gold is the technology industry. Here, demand was 11 percent higher in the first quarter of 2021 than in the same period last year. The five-year average is 80.9 tons of gold. In the first quarter of 2021, 81.1 tons of gold were demanded. Overall, a global recovery is continuing, and the jewelry sector and industry are again increasingly in need of the precious metal. Also, the safe haven gold is considered important by governments in terms of currency reserves. So, nothing should stand in the way of a further increase in the gold price.
Profiteers are then the investors and the gold companies like Fiore Gold or Karora Resources.
Fiore Gold - https://www.youtube.com/watch?v=Cngx_r_ZpPk - owns the producing Pan Mine in Nevada. Nearby is the second gold project and Fiore Gold is currently expanding its land package to include a formerly producing gold mine nearby.
Karora Resources - https://www.youtube.com/watch?v=Cngx_r_ZpPk - is producing at its two gold mines in Western Australia, Beta Hunt and Higginsville. The focus is on increasing production and reducing costs. The third project is Spargos Reward, with mining planned for later this year.
Current corporate information and press releases from Fiore Gold (https://www.resource-capital.ch/en/companies/fiore-gold-ltd/) and Karora Resources (https://www.resource-capital.ch/en/companies/karora-resources-inc/).
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