German economy weakens - gold and silver strong
(PresseBox) - The Fed has raised interest rates. The price of gold and silver rises as a result.
This is actually no surprise, since the same thing happened in previous interest rate hike cycles. In the process, the silver price even managed to gain more than the gold price. However, the growth forecasts for the German economy do not look so rosy. The Institute for the World Economy (IfW) has just halved its forecast for 2022. It now only expects growth of 2.1 percent. Only last December, the IfW had reduced its expectations from 5.1 to four percent. The reasons for this were supply chain problems and the corona pandemic - which is still out of the world. According to the IfW, the Ukraine-Russia war is preventing full utilization of economic output. The institute does not foresee possible growth of 3.5 percent until 2023. The war has far-reaching consequences for Germany. For example, costs in 2022 and 2023 of around 90 billion euros in economic output are expected to be incurred as a result of the war.
The economy will recover because savings have accumulated among consumers, which will provide a boost and cushion the Ukraine shock. As a reminder, in 2020, the first Corona year, the German economy contracted by 4.6 percent. By contrast, 2021 saw economic growth of 2.9 percent. So what to do with what you ve saved? In view of the inflation rate of more than five percent in Germany in February, every investor should strive to get his sheep, i.e. his savings, into the dry. This can be achieved by investing in gold and gold companies, because nothing should go wrong in the long term.
Chesapeake Gold - https://www.youtube.com/watch?v=FUH50BAdug0 - specializes in gold-silver deposits in North and South America. The main project is the Metates project.
CanaGold - https://www.youtube.com/watch?v=PfAQqs2iYPM - owns the prospective New Polaris gold project in British Columbia, which scores with very good drill results. Further projects are in Nevada and Canada.
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.
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Datum: 21.03.2022 - 03:00 Uhr
Sprache: Deutsch
News-ID 657188
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