Gold demand is recovering in China, a major gold consumer country. The reasons are seasonal events and the Evergrande crisis.
Experts even expect a possible drastic increase in Chinese gold imports. Because prompted by the Evergrande debacle (the collapse of the property developer), investors are increasingly betting on the precious metal. Especially in China, gold is a popular safe haven. According to forecasts by Yiyi Gao, senior analyst at Metals Focus, investment demand will recover by 33 percent and jewelry demand by an estimated 43 percent year-on-year. In August, China imported 21.8 tonnes of gold from Hong Kong, about the same as the month before. From January to August, imports totaled 174 tonnes of gold. In 2020 as a whole, that figure was just 41 tonnes of gold from Hong Kong. Even if pre-Corona levels have not quite been regained, there has definitely been a significant recovery. China had imported around 18 tonnes of gold from Switzerland this August.
Currently gold has fallen to a seven-week low. As usual, a stronger US dollar and rising bond yields were the cause. The latter could be based on the hope of an imminent Fed rate hike. Incidentally, the US could hit the debt ceiling as early as October 18. To avert the government shutdown, the debt ceiling must be raised and there is not much time left. Otherwise, default is imminent. Given this scenario, gold should actually be or become more expensive. But that's where a deal between the Democrats and Republicans is widely expected. Positioning oneself in gold mining stocks now, as long as gold is not yet trending significantly upwards, could be worthwhile.
Tarachi Gold's - https://www.youtube.com/watch?v=tXqKksLoZb4 - projects are located in mining-friendly Mexico. Recently there was good news from the Jabali property, drilling activity returned high gold grades.
Trillium Gold Mines - https://www.youtube.com/watch?v=yHazC4ybcxQ -, active in Ontario and Quebec, has also been very successful with drilling at the Newman Todd complex. More than 100, once even almost 300 grams of gold per ton of rock could be found.
Latest corporate information and press releases from Trillium Gold Mines (- https://www.resource-capital.ch/en/companies/trillium-gold-mines-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 applies: https://www.resource-capital.ch/en/disclaimer/
Experts even expect a possible drastic increase in Chinese gold imports. Because prompted by the Evergrande debacle (the collapse of the property developer), investors are increasingly betting on the precious metal. Especially in China, gold is a popular safe haven. According to forecasts by Yiyi Gao, senior analyst at Metals Focus, investment demand will recover by 33 percent and jewelry demand by an estimated 43 percent year-on-year. In August, China imported 21.8 tonnes of gold from Hong Kong, about the same as the month before. From January to August, imports totaled 174 tonnes of gold. In 2020 as a whole, that figure was just 41 tonnes of gold from Hong Kong. Even if pre-Corona levels have not quite been regained, there has definitely been a significant recovery. China had imported around 18 tonnes of gold from Switzerland this August.
Currently gold has fallen to a seven-week low. As usual, a stronger US dollar and rising bond yields were the cause. The latter could be based on the hope of an imminent Fed rate hike. Incidentally, the US could hit the debt ceiling as early as October 18. To avert the government shutdown, the debt ceiling must be raised and there is not much time left. Otherwise, default is imminent. Given this scenario, gold should actually be or become more expensive. But that's where a deal between the Democrats and Republicans is widely expected. Positioning oneself in gold mining stocks now, as long as gold is not yet trending significantly upwards, could be worthwhile.
Tarachi Gold's - https://www.youtube.com/watch?v=tXqKksLoZb4 - projects are located in mining-friendly Mexico. Recently there was good news from the Jabali property, drilling activity returned high gold grades.
Trillium Gold Mines - https://www.youtube.com/watch?v=yHazC4ybcxQ -, active in Ontario and Quebec, has also been very successful with drilling at the Newman Todd complex. More than 100, once even almost 300 grams of gold per ton of rock could be found.
Latest corporate information and press releases from Trillium Gold Mines (- https://www.resource-capital.ch/en/companies/trillium-gold-mines-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 applies: https://www.resource-capital.ch/en/disclaimer/
