On 24 March, the gold market in Dubai was closed and on 26 April it was reopened, under strict rules of distance and hygiene of course. Still missing are the customers, who enjoy gold-plated sunglasses, evening dresses or crowns. "We expect to reach 50 per cent of business activity again by July or August," says Tawhid Abdullah, Chairman of the Dubai Gold and Jewellery Group.
Many in the gold jewellery industry are similarly affected. The demand for gold jewellery has dropped significantly due to the Covid-19 crisis. But as the World Gold Council writes in its April report, the strength of investment demand will compensate for this weakness. Assets managed in ETFs reached a new record high in April. And once the corona crisis is over, the hunger for gold jewellery may be very strong. Then the gold souk in Dubai will also regain its vibrant atmosphere.
Gold pays no interest or dividends, but there is currently no profit to be made with government bonds either. However, gold companies are doing well thanks to the high price of gold. Some even increase their dividend payments. If investors are putting their money in savings accounts, they can only watch as their financial assets slowly melt away. An investment in gold shares would be a consideration that should not be underestimated.
Soon Treasury Metals will produce gold: https://www.commodity-tv.com/play/treasury-metals-new-c-zone-will-increase-production-and-resource-profile/. The Goliath project in Ontario has already produced nice drill results. The conditions and infrastructure are excellent.
In Nevada, Corvus Gold owns the North Bullfrog Gold Project, which covers 90.5 square kilometres and the Mother Lode Gold Project 20 kilometres away: https://www.commodity-tv.com/play/corvus-gold-makes-new-large-discovery-below-mother-lode-deposit/. The projects contain an estimated 3.6 million ounces of gold and eight million ounces of silver.
Current company information and press releases from Treasury Metals (https://www.resource-capital.ch/en/companies/treasury-metals-inc/).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also