Who loves gold the most?
When it comes to the question of which country is ahead in terms of per capita demand for gold, the inhabitants of Hong Kong are in the lead with 5.3 grams (in 2019 as a whole), followed by the United Arab Emirates (3.6 grams), Switzerland (3.5 grams) and Kuwait (3.3 grams).
These figures include all private consumption, i.e. gold bars, coins and jewelry. Incidentally, in 2011 Switzerland still led the list with 12.3 grams. Germany was and is still in seventh place with 1.2 grams last year.
Most gold jewelry is sold in China and India. Following a decline in gold jewelry trading in China, demand has now recovered in the third quarter, but is still a good 25 percent down on the same quarter of the previous year. As a result of the pandemic, many weddings have been postponed to the third and fourth quarters.
In India, too, demand for jewelry had fallen sharply, with a record low in the second quarter due to Covid-19. According to the World Gold Council, a recovery, albeit still modest, can be seen here too. Jewelry demand in the US, on the other hand, was fairly stable, with demand in this third quarter only three percent lower than in the third quarter of 2019, and demand for gold jewelry in Japan was also only five percent lower.
Once the pandemic is under control, whether with medication or vaccinations, the demand for jewelry should also recover worldwide. In order to nevertheless achieve something positive with gold, to assert oneself against the current uncertainties and zero interest rates, an investment in gold companies such as Ximen Mining or Condor Gold comes into question.
Ximen Mining is active in British Columbia. In addition to the Gold Drop and Brett Gold Projects, the Company is also working on the Treasure Mountain Project, the Kenville Mine and the Amelia Gold Project. The latter recently returned gold grades of up to 103.5 grams of gold and up to 122 grams of silver per tonne of rock.
Condor Gold owns the La India gold project in Nicaragua. The project is expected to contain approximately 1.12 million ounces of gold (open pit). The environmental permit has already been granted.
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.
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