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Swiss Resource Capital AG Poststrasse 1 9100 Herisau, Switzerland http://www.resource-capital.ch
Contact Mr Jörg Schulte +49 2983 974041

India craves gold

(PresseBox) (Herisau, )
Indian jewellers are already stocking up heavily on gold as many festivals are coming up.

India's gold imports jumped by a whopping 658 percent in September 2021 compared to September 2020. Or in other words, imports accounted for around $5.1 billion last month, while the value of gold in September 2020 was just $601 million. Instead of 12 tons as a year ago, 91 tons of gold were imported this September. The local prices of gold have gone down, and jewellers are taking advantage of this as gold is once again top of the list for gifts with the upcoming festive season. Currently, Indian gold buyers are witnessing the lowest gold price in almost six months. Also, the Indian rupee has appreciated. This combination has enabled many traders to buy gold heavily. And India is the second largest consumer of gold bullion in the world. This should have a supportive effect on the price of the precious metal.

Indian traders are already enjoying improved retail demand and jewellery stores are experiencing brisk demand from customers. A further increase in gold imports is expected in the current October. While 45 tons of gold were imported last year, experts expect more than 100 tons this October, at least if the gold price in India remains at the current favorable level. The number of coronavirus cases has fallen, and with it the fear of the virus, and so retail consumers are happy to come shopping again.

Gold in the form of jewelry, bars or coins is a good thing for investors. But if you still want leverage on the gold price, look to gold companies. Karora Resources - https://www.youtube.com/watch?v=JQ7gZMTXiJY - is successfully producing in Western Australia at its Beta Hunt and Higginsville gold projects. Work is underway to increase production and reduce costs.

Another gold producer is OceanaGold - https://www.youtube.com/watch?v=KiVnrL52S-M - with projects in New Zealand, the US and the Philippines. Up to 380,000 ounces of gold production in total are expected in the coming year.

Current corporate information and press releases from Karora Resources (- https://www.resource-capital.ch/en/companies/karora-resources-inc/ -) and OceanaGold (- https://www.resource-capital.ch/en/companies/oceanagold-corp/ -).

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 applies: https://www.resource-capital.ch/en/disclaimer/

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The publisher indicated in each case (see company info by clicking on image/title or company info in the right-hand column) is solely responsible for the stories above, the event or job offer shown and for the image and audio material displayed. As a rule, the publisher is also the author of the texts and the attached image, audio and information material. The use of information published here is generally free of charge for personal information and editorial processing. Please clarify any copyright issues with the stated publisher before further use. In case of publication, please send a specimen copy to service@pressebox.de.