Contrary to most other assets and commodities, precious metals have performed rather well. Their demand has not decreased by much, as is evident from Russia’s sales alone.
Pumping more helicopter money into the European economy is not a long-term solution It will drive more people to precious metals and cryptocurrencies.
The situation in India is rather unique, especially when comparing it to China. In that part of the world, gold is being sold at a discount, instead of a premium.
It is very likely that most will simply hold onto their gold in search of even higher values. There is no real reason for anyone to take profit right now.
Silver has a leg up over gold, as it has a much higher demand from industrial uses. That alone can easily elevate the silver price to $19 and higher in the weeks to come.
This trend affecting mining stocks is not tied to one or two companies either. All of the companies involved in mining precious metals have seen a significant boost since March of 2020
Reaching a value of $1,800 per gold ounce as a stable level is merely a matter of time. A new all-time high is still within reach in the next 18-36 months.
Located in the mineral-rich Eastern Desert, it will be interesting to see how much gold it can effectively produce. There are still some questions as to how the deposit’s size has been measured exactly.
Several macroeconomic developments may have a direct, or indirect influence on the price of this precious metal. A new price surge is not out of the question.
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