Hindu holidays are approaching, as is the wedding season. The high demand for gold by Indians can also be deduced from the import figures. While in 2020 India demanded around 446 tonnes of gold, in the first three quarters of 2021 it was already 360 tonnes of gold. And for the coming year, the World Gold Council also expects India to be very hungry for gold. This should support the gold price.

The second largest consumer of gold on earth is India. For this, a lot of gold has to be imported. From 2016 to 2020, according to the World Gold Council, 86 percent of the gold came into the country through imports, mining supplied only one percent, and about 13 percent came from recycling. That’s because the Indian government has been trying to curb gold imports since 2012, fearing a negative impact on the country’s trade balance. Various strict import restrictions have been imposed. While import duties were at ten percent for many years, they were raised to 12.5 percent in 2019. Taxes on many other goods that are imported were also pushed up. In early 2021, India again lowered the import duty on gold bullion to 10.75 percent, but the price of gold had risen significantly.

Now, catch-up effects as in India, so also in China, as well as the uncertainty regarding the new Corona virus variant could make more investors turn to gold as a safe haven. A well-supported gold price also boosts the well-positioned gold companies. These include Empress Royalty and Fiore Gold.

Empress Royalty – https://www.youtube.com/watch?v=d-ptx2yvyfU&t=147s – invests in development and production stage projects in gold and silver. Licensing and streaming agreements provide diversification.

Fiore Gold – https://www.youtube.com/watch?v=oi0GmtOrxLM – has the highly prospective Pan Mine in Nevada. Currently a merger with Calibre is planned.

Latest corporate information and press releases from Fiore Gold (- https://www.resource-capital.ch/en/companies/fiore-gold-ltd/ -).

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/