Gold in demand as protection
Gold demand is recovering in China, a major gold consumer country. The reasons are seasonal events and the Evergrande crisis.
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Experts even expect a possible drastic increase in Chinese gold imports. Because prompted by the Evergrande debacle (the collapse of the property developer), investors are increasingly betting on the precious metal. Especially in China, gold is a popular safe haven. According to forecasts by Yiyi Gao, senior analyst at Metals Focus, investment demand will recover by 33 percent and jewelry demand by an estimated 43 percent year-on-year. In August, China imported 21.8 tonnes of gold from Hong Kong, about the same as the month before. From January to August, imports totaled 174 tonnes of gold. In 2020 as a whole, that figure was just 41 tonnes of gold from Hong Kong. Even if pre-Corona levels have not quite been regained, there has definitely been a significant recovery. China had imported around 18 tonnes of gold from Switzerland this August.
Currently gold has fallen to a seven-week low. As usual, a stronger US dollar and rising bond yields were the cause. The latter could be based on the hope of an imminent Fed rate hike. Incidentally, the US could hit the debt ceiling as early as October 18. To avert the government shutdown, the debt ceiling must be raised and there is not much time left. Otherwise, default is imminent. Given this scenario, gold should actually be or become more expensive. But that's where a deal between the Democrats and Republicans is widely expected. Positioning oneself in gold mining stocks now, as long as gold is not yet trending significantly upwards, could be worthwhile.
Tarachi Gold's projects are located in mining-friendly Mexico. Recently there was good news from the Jabali property, drilling activity returned high gold grades.
Trillium Gold Mines - https://www.youtube.com/watch?v=yHazC4ybcxQ -, active in Ontario and Quebec, has also been very successful with drilling at the Newman Todd complex. More than 100, once even almost 300 grams of gold per ton of rock could be found.
Latest corporate information and press releases from Trillium Gold Mines ( https://www.resource-capital.ch/en/companies/trillium-gold-mines-inc/).
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