Gold is selling like hot cakes
Record amounts of gold coins and bars crossed the counter in Germany last year
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Germans bought gold for around eight billion euros and to the tune of 163.4 tons in 2020, according to the World Gold Council. That was more than ever before. Globally, investment demand increased by around three percent compared to the year before, even though total gold demand worldwide fell by around 14 percent.
German citizens were thus strongly represented among investors. In 2011, they reached the previous record with 5.2 billion euros in gold purchases. Looking at the total European demand for gold, Germany provided 64 percent of the demand. Worldwide, China is in first place for investment gold, followed by Germany, then India.
According to research by the World Gold Council, demand for exchange-traded funds continued to rise sharply in 2020. Here, the result is an increase of 120 percent compared to 2019. Last year, the jewelry sector had to record losses, with a decline of 34 percent compared to the previous year. There was also a drop in demand for gold from industry (around seven percent) and from the central bank sector (around 59 percent).
Looking at the supply side, mine supply fell by four percent and marked a five-year low. Conclusion: Gold as the investment vehicle has massively come into the focus of investors. And this is not just about gold coins and bars, but also about the gold companies that extract the valuable metal from the ground.
Fury Gold Mines or CanaGold would come to mind here, for example.
Fury Gold Mines - https://www.youtube.com/watch?v=cP6rZwyVwOc - focuses on productive mining regions in Canada. The projects contain several million ounces of gold that are waiting to be tapped and developed.
CanaGold (formerly Canarc Resources) - https://www.youtube.com/watch?v=4QSJUtZslAc - is developing gold projects in North America, such as the New Polaris gold project. Recent drill results yielded up to 9.6 grams of gold per ton of rock.
Latest corporate information and press releases from Fury Gold Mines (https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/).
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