Investors continue to trust in gold and gold companies
The latest World Gold Council report shows that gold is more popular than ever
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According to the World Gold Council, gold holdings in physically deposited gold ETFs have increased dramatically in the first three quarters of 2020: by 1,000 tonnes to 3,880 tonnes of gold. Such inflows were nowhere near as high as 2009 in the wake of the financial crisis. In September, some investors were certainly disappointed with the gold price. But there will always be setbacks, no matter how positive the fundamentals are.
The strong US dollar was certainly responsible for the gold price, which was not as encouraging in September. For the further development of the gold price, the World Gold Council expects a continued volatile rest of the year. It is also interesting in this context that Germany was again one of the largest buyers of gold coins and gold bars in the third quarter of 2020. 32.3 tons of gold went over the counter in the form of coins and bars in the three months, 81 percent more than in the same quarter last year. A not inconsiderable decline in the demand for gold by the jewelry industry was recorded, especially among gold-loving Indians.
In view of the ongoing situation regarding negative interest rates and the pandemic events and the associated uncertainties, and not least because of the expected extension of the ECB's bond purchase program, gold should continue to be in strong demand.
So an engagement in gold companies should also pay off. For example, in Maple Gold Mines. Its Douay gold project in Quebec is home to a large undeveloped gold resource. Now, with the support of strategic partner Agnico Eagle Mines (one of the world's leading gold companies), the Douay project should have excellent prospects for further development.
Karora Resources is already a gold producer. The Higginsville and Beta Hunt gold mines in Western Australia produced nearly 25,000 ounces of gold each in the second and third quarters.
Current company information and press releases from Karora Resources (https://www.resource-capital.ch/en/companies/karora-resources-inc/) and Maple Gold Mines (https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd/).
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