India with record demand for gold and silver
After two years of pandemic interruptions, at the Indians the demand for gold and silver is extremely high.
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This record demand naturally supports the prices of these precious metals. The Diwali festival was held at the end of October. It lasts five days and it represents happiness, prosperity and positivity. Gold as a symbol of wealth, as well as silver were in high demand.
Thus, the Indian gold industry has completely separated from the Corona crisis recovered. In the third quarter of 2022, the recovery made up to 80 percent, according to Pankaj Arora, president of the All India Jewellers and Goldsmith Federation. Especially with silver seems there is no end to the pent-up demand. According to forecasts, the silver imports to India at a record level in the current year of more than 10,000 tons. The premiums for silver were high, so that companies paid to ship silver by plane to be delivered to India.
For gold had to be paid on Diwali festival about 1,650 US dollars per ounce, which was almost as low as it had been for two years.
One of the reasons why the physical gold demand was the strongest in recent years. Since many Precious metal transactions already in the run-up to the festival with gold and silver, the record demand has not been reflected in the manifested in the global markets. In order to pay for higher prices investment demand must now become stronger.
Gold has long been coveted around the world and it is the most consistent value in the history of investment opportunities.
Unlike in earlier times, gold is now also used in modern devices and thus serves, albeit only to a minor extent, the scope as an industrial metal. Among the promising gold companies include Gold Terra Resource and Golden Rim Resources.
Gold Terra Resource - https://www.youtube.com/watch?v=0AdhgnKK-Gw -, with its Yellowknife City Gold Project approximately 800 square kilometers of prime gold country in the Northwest Territories. In the past, this was the site of the gold mines Con and Giant.
Golden Rim Resources - https://www.youtube.com/watch?v=hp43PHQCK88 - has two gold projects in West Africa in its portfolio, one in Guinea and one in Burkina Faso.
Latest corporate information and press releases from Gold Terra Resource (https://www.resource-capital.ch/en/companies/gold-terra-resource-corp/ ).
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