In the first half of 2023, not much has moved on the market for physical precious metals.
Demand for gold and silver bullion was mixed in the first six months of 2023 according to the Perth Mint and the U.S. Mint. Here, investors appear to be waiting to see what direction central banks take with monetary policy. Overall, the two mints said demand was lower than the same period last year. Still, many central banks are raising interest rates. As the European Central Bank just announced, a rate hike in July was still necessary. However, it is still unclear whether this will also be the case for September. Further developments will have to be awaited. The fight against inflation is still ongoing in many countries. It could therefore take time for the interest rate hikes to come to an end.
Then, however the way is free upward for the gold price. Increased interest rates are leading to slower consumer spending by households, so the major industrialized countries will probably have to reckon with below-average economic growth in the second half of the year. Although central banks have already had some success in lowering inflation, for example in the USA, the inflation target of two percent is still some way off. The spectre of recession is therefore still present.
Whether waiting is the right option is something everyone must decide for themselves. In any case, the U.S. Mint saw sales of gold bars and coins fall by one percent in the first half of 2023. At the Perth Mint, however, revenue from sales improved last month. Silver has had a tough time; it's not considered as much of a safe haven as gold, and recession fears are weighing on industry demand for silver. Perhaps that's why investors should go for it now, even in the equity values of precious metals companies.
In the Yukon, Victoria Gold - https://www.commodity-tv.com/ondemand/companies/profil/victoria-gold-corp/ - has successfully started gold production in 2019. The open pit operation is expected to extract 200,000 ounces of gold per year from the ground for more than ten years.
Vizsla Silver - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ - is working on its prospective Panuco silver-gold project in Mexico. This formerly producing property covers approximately 7,200 hectares.
Current company information and press releases from Vizsla Silver (- https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ -) and from Victoria Gold (- https://www.resource-capital.ch/en/companies/victoria-gold-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/
Demand for gold and silver bullion was mixed in the first six months of 2023 according to the Perth Mint and the U.S. Mint. Here, investors appear to be waiting to see what direction central banks take with monetary policy. Overall, the two mints said demand was lower than the same period last year. Still, many central banks are raising interest rates. As the European Central Bank just announced, a rate hike in July was still necessary. However, it is still unclear whether this will also be the case for September. Further developments will have to be awaited. The fight against inflation is still ongoing in many countries. It could therefore take time for the interest rate hikes to come to an end.
Then, however the way is free upward for the gold price. Increased interest rates are leading to slower consumer spending by households, so the major industrialized countries will probably have to reckon with below-average economic growth in the second half of the year. Although central banks have already had some success in lowering inflation, for example in the USA, the inflation target of two percent is still some way off. The spectre of recession is therefore still present.
Whether waiting is the right option is something everyone must decide for themselves. In any case, the U.S. Mint saw sales of gold bars and coins fall by one percent in the first half of 2023. At the Perth Mint, however, revenue from sales improved last month. Silver has had a tough time; it's not considered as much of a safe haven as gold, and recession fears are weighing on industry demand for silver. Perhaps that's why investors should go for it now, even in the equity values of precious metals companies.
In the Yukon, Victoria Gold - https://www.commodity-tv.com/ondemand/companies/profil/victoria-gold-corp/ - has successfully started gold production in 2019. The open pit operation is expected to extract 200,000 ounces of gold per year from the ground for more than ten years.
Vizsla Silver - https://www.commodity-tv.com/ondemand/companies/profil/vizsla-silver-corp/ - is working on its prospective Panuco silver-gold project in Mexico. This formerly producing property covers approximately 7,200 hectares.
Current company information and press releases from Vizsla Silver (- https://www.resource-capital.ch/en/companies/vizsla-silver-corp/ -) and from Victoria Gold (- https://www.resource-capital.ch/en/companies/victoria-gold-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/
