Monetary policy measures will provide the impetus for a rising gold price. At present, the price is likely to move sideways.
The gold price rose by a good 15 percent in 2023 in US dollar terms. In euros, it was still around eight percent. And this despite rising interest rates. A new all-time high of USD 2,135 per ounce of gold was even reached. All eyes are now on the ECB and the Fed. Although President Christine Lagarde of the European Central Bank called discussions about interest rate cuts premature, she was more positive about the inflation trend. The gold price (in euros) did not move much as a result. The situation in the USA is even more important. The timing of the interest rate cut is more significant here, as the US capital market is significantly larger than the European one. When it comes to gold demand, China is always of central interest. Here, it is important to observe how the economy develops.
In any case, even if China's economy is weakening, gold is in demand. In December 2023, China imported around 50 tons of gold net. This is the highest figure since February. Overall, gold imports from Hong Kong were at a five-year high last year. Compared to 2022, demand for gold rose by around nine percent in 2023. Bars and coins in particular enjoyed increasing popularity, as did gold ETFs.
According to the China Gold Association, gold jewelry consumption rose by almost eight percent in 2023. Purchases of gold bars and coins rose by almost 16%. China's middle class in particular seems to be keen to preserve wealth. The yuan was also weak, and the real estate sector gave cause for concern. This safeguarding of assets led to the record high in gold imports in China.
In this country, gold investors should also look at gold companies and gold royalty companies such as Gold Royalty or Osisko Gold Royalties. With these royalty companies, investors receive a share in a variety of royalties and precious metal purchases.
Gold Royalty - https://www.commodity-tv.com/ondemand/companies/profil/gold-royalty-corp/ - is focused on North and South America.
Osisko Gold Royalties - https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-royalties-ltd/ - generated record revenues in 2023.
Osisko Gold Royalties (- https://www.resource-capital.ch/en/companies/osisko-gold-royalties-ltd/ -) and Gold Royalty (- https://www.resource-capital.ch/en/companies/gold-royalty-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/
The gold price rose by a good 15 percent in 2023 in US dollar terms. In euros, it was still around eight percent. And this despite rising interest rates. A new all-time high of USD 2,135 per ounce of gold was even reached. All eyes are now on the ECB and the Fed. Although President Christine Lagarde of the European Central Bank called discussions about interest rate cuts premature, she was more positive about the inflation trend. The gold price (in euros) did not move much as a result. The situation in the USA is even more important. The timing of the interest rate cut is more significant here, as the US capital market is significantly larger than the European one. When it comes to gold demand, China is always of central interest. Here, it is important to observe how the economy develops.
In any case, even if China's economy is weakening, gold is in demand. In December 2023, China imported around 50 tons of gold net. This is the highest figure since February. Overall, gold imports from Hong Kong were at a five-year high last year. Compared to 2022, demand for gold rose by around nine percent in 2023. Bars and coins in particular enjoyed increasing popularity, as did gold ETFs.
According to the China Gold Association, gold jewelry consumption rose by almost eight percent in 2023. Purchases of gold bars and coins rose by almost 16%. China's middle class in particular seems to be keen to preserve wealth. The yuan was also weak, and the real estate sector gave cause for concern. This safeguarding of assets led to the record high in gold imports in China.
In this country, gold investors should also look at gold companies and gold royalty companies such as Gold Royalty or Osisko Gold Royalties. With these royalty companies, investors receive a share in a variety of royalties and precious metal purchases.
Gold Royalty - https://www.commodity-tv.com/ondemand/companies/profil/gold-royalty-corp/ - is focused on North and South America.
Osisko Gold Royalties - https://www.commodity-tv.com/ondemand/companies/profil/osisko-gold-royalties-ltd/ - generated record revenues in 2023.
Osisko Gold Royalties (- https://www.resource-capital.ch/en/companies/osisko-gold-royalties-ltd/ -) and Gold Royalty (- https://www.resource-capital.ch/en/companies/gold-royalty-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/
