Gold Price Stabilizes and Palladium Reaches New Record High
As the renowned World Gold Council points out, the combination of a weakening US dollar and persistent market risks will continue to make gold attractive to investors. Monetary policy and the direction of the US dollar are important factors for the price of the precious metal. Gold price drivers exist in various areas.
On the one hand, economic growth leads to an increased demand for jewellery, technological applications (which need gold) and the desire for long-term savings. On the other hand, it is the smouldering trouble spots that are driving investors into gold investments. And in one of the most important demand countries for gold, India, the hunger for gold should grow, because calculated in Indian rupees, the price of gold is favourable for acquisitions.
A stable gold price is an advantage for gold companies like Orsu Metals - https://www.commodity-tv.net/c/search_adv/?v=298821. Their Sergeevskoe gold project, located in the Russian Federation, could prove to be a stroke of luck. More than 1.3 million ounces of gold have already been recovered from the Klyuchevskoe gold deposit in the immediate vicinity.
When it comes to supply, a look at South Africa, the former largest gold producer, shows that production is falling from month to month - already 16 times in a row. Rising electricity costs in particular are a problem for producers.
Palladium is currently particularly pleasing to investors. The metal possesses unique chemical properties, which are particularly important in petrol-powered vehicles. This is because it allows pollution to be controlled. Chrysler in North America is currently having to recall almost one million vehicles due to exceeding emission values. The necessary exchange of catalysts will consume an enormous amount of palladium and perhaps drive the price further.
This would be a positive development for Sibanye-Stillwater - https://www.commodity-tv.net/c/search_adv/?v=298805, one of the world's largest platinum and palladium producers, which produces in South Africa and North America. In addition, Sibanye-Stillwater is one of the largest gold producers in South Africa.
Current company information and press releases from Sibanye-Stillwater (https://www.resource-capital.ch/en/companies/sibanye-stillwater-ltd.html).
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