Gold price outlook excellent
Fitch Solutions, a financial and analytical company, has examined gold mine production in the coming years
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According to Fitch Solutions, gold mine production will grow again in the coming years. Higher gold prices and mergers between large gold companies are cited as the reason. In the years 2016 to 2019, the amount of gold produced globally grew by an average of about 1.2 percent annually. For 2020, Fitch Solutions expects an increase of 2.5 percent.
This year's production growth will not be driven by China. While Chinese gold production grew by 3.1 percent annually in the past decade, growth of only 0.2 percent is expected in the next ten years. In contrast, the production growth of the gold mines in Russia is expected to accelerate, at around 3.7 percent annually. This is because domestic demand for gold is rising strongly there. After all, Russia wants to increase its gold reserves in order to protect itself against possible Western sanctions against state banks.
The US gold mining sector will also continue to grow. There is a lot of investment here. South African gold production is also expected to grow from 2021 onwards, after having produced less in the pandemic year 2020. Supported by expected rising gold prices, greater gold production is expected.
Gold will continue to attract many investors who appreciate the security and value retention factor of the precious metal. And investors will also look around gold companies such as Ximen Mining or Tarachi Gold.
Ximen Mining - https://www.youtube.com/watch?v=uw8w-SPQ6AI&t=4s - is located in British Columbia with its Brett, Gold Drop, Kenville, Amelia and Treasure Mountain Silver projects.
In Mexico, Tarachi Gold - https://www.youtube.com/watch?v=JnoIi8dymmw&t=9s - owns over 2,560 hectares of land with several concessions in the Mulatos Gold Belt. Very good historical drill results are available.
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