Today, there are around four times as many US dollar millionaires as at the turn of the century. In principle, the real wealth of private households is growing in most countries. Crises and inflation can change this. For example, the impact of inflation on millionaire figures has recently been on the rise since 2020. At the end of 2022, there were around 59.4 million millionaires worldwide, 3.5 million fewer than at the end of 2021, so the number of millionaires has become smaller. Millionaire status has been lost primarily by citizens in the United States, Japan, the United Kingdom, Australia, Canada and Germany. More than 2.6 million adults in this country are millionaires. Countries where the number of millionaires has increased include Norway, Iran or Brazil. Of the 59.4 million millionaires in total, the majority, i.e. 51.5 million people, own assets of between one and five million US dollars (as of 2022). Around 4.6 percent will still own more than ten million US dollars.
In 2022, there were approximately 6.23 million millionaires in mainland China, plus 630,000 in Hong Kong. China and India are experiencing a strong upward trend in the number of millionaires. According to estimates, by 2027 the number of millionaires in China will increase by 112 percent, a huge number. By comparison, the U.S. is expected to see an increase of only 16 percent by 2027. There's a lot of potential building up in terms of consumption, for example. This could therefore lead to a strong increase in gold consumption in China and Hong Kong, for example, and drive up gold prices. This is because gold is traditionally used in China to protect savings and is a status symbol. If the gold price rises again, the shares of gold companies will also benefit, usually disproportionately. Examples of fundamentally good gold companies are Caledonia Mining or Condor Gold. Caledonia Mining (https://www.commodity-tv.com/ondemand/companies/profil/caledonia-mining-corporation-plc/)has been producing successfully at the Blanket gold mine in Zimbabwe for years and pays dividends. In the first half of 2023, the mine produced nearly 35,000 ounces of gold. Condor Gold (https://www.commodity-tv.com/ondemand/companies/profil/condor-gold-plc/) is focusing on three projects in Nicaragua. The high-efficiency La India project (100 percent) covers 588 square kilometers and covers 98 percent of the historic La India gold mining district.
Current corporate information and press releases from Caledonia Mining (https://www.resource-capital.ch/en/companies/caledonia-mining-corp/).
In accordance with §34 of the German Securities Trading Act (WpHG), I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and that there is therefore a possible conflict of interest. No guarantee for the translation into German. Only the English version of this news is valid.
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