Gold for brides
No wonder that India is one of the world's largest importers of gold, the second largest after China. Prime Minister Narenda Modi wants to be re-elected. Also, the federal government announced India's cash transfers to farmers, as well as tax cuts for the lower middle class. And the Reserve Bank of India lowered interest rates for the first time since 2017 to strengthen the economy.
New, however, are the gold gifts to brides. From the first of April, when the new financial year begins, the Indian Minister of Finance is to loosen up around 42 million US dollars for the gold programme. That'll cover about 80,000 brides. According to estimates by the World Gold Council, India will consume between 750 and 850 tonnes of gold in 2019.
Gold companies are always pleased about the rising demand for gold, for example Maple Gold Mines - https://www.commodity-tv.net/c/search_adv/?v=298484. A new resource estimate for the 100% owned Douay gold project in Quebec will be released shortly. The project covers approximately 389 square kilometres of best gold land in the Abitibi Greenstone Belt.
Political parties and candidates are therefore inventive when it comes to gifts to voters. The Assam state (Indian federal state with 31 million inhabitants) also wants to give away electric bicycles to girls who achieve a certain success rate in school leaving examinations. In general, India is a promising growth market for the automotive industry. This consumes large quantities of zinc. New battery technologies also need more zinc. A falling supply could also support the zinc price.
Zinc companies with promising projects, such as Zinc One, should have enough buyers for their raw materials - https://www.commodity-tv.net/c/search_adv/?v=298394. In Peru, Zinc One is working on the Bongará and Charlotte-Bongará zinc projects, which will soon be ready for production. High grade zinc mineralization has already been detected.
Current company information and press releases from Maple Gold Mines (https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd.html).
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