Rain in India means strong demand for gold
(PresseBox) - Most of the time, we don t like the rain. For gold investors, however, rain offers opportunities, especially when it falls in India.
A good sign: "The India Meteorological Department (IMD) confirmed that the entire country was officially in monsoon on July 2." Those who don t like rain in what is now the world s most populous country are in for a rough time. But in India, the majority of the population loves the rain. After all, the important wet stands for prosperity, albeit on a small scale. This is because many people in India are dependent on agriculture. If the plants thrive in the fields, the harvest is plentiful and the earnings rewarding. A good monsoon is therefore important, not only for rural areas. A good monsoon also makes itself felt in the cities, namely through food prices that do not go through the roof.
But what does the monsoon have to do with gold? Anyone who knows anything about India will immediately see the connection between ideal weather and gold demand. After all, India is not only the country with the second highest demand for gold on earth. Around 60 percent of this gold demand comes from agricultural areas. This is because the rural population in particular swears by gold as a means of preserving value. And that s why it s also very popular for gifts at weddings and holidays, for example. If the farmers and agricultural workers earn well, they therefore invest more of their earnings in gold. It so happens that it is precisely in the third and fourth quarters of a good harvest year that gold demand in India increases.
This year seems to be another good monsoon year and thus harvest year, although there are always risks in agriculture. But if it comes as currently expected, then the gold price should receive further impetus. Who wants to profit from it, can put itself physical gold into the safe. Or investors can take a more risk-averse approach and invest in the gold that is still lying dormant in the ground. This can be done by buying shares in companies that have good gold projects. Examples include Fury Gold Mines and OceanaGold.
In Quebec and Nunavut, Fury Gold Mines - https://www.commodity-tv.com/ondemand/companies/profil/fury-gold-mines-ltd/ - is active. The portfolio also includes over 59.5 million common shares of Dolly Varden Silver.
OceanaGold - https://www.commodity-tv.com/ondemand/companies/profil/oceanagold-corp/ - produces gold and copper, this in the USA and in the Philippines.
Current corporate information and press releases from Fury Gold Mines (- https://www.resource-capital.ch/en/companies/fury-gold-mines-ltd/ -) and OceanaGold (- https://www.resource-capital.ch/en/companies/oceanagold-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/
Unternehmensinformation / Kurzprofil:
Datum: 20.10.2023 - 03:19 Uhr
Sprache: Deutsch
News-ID 693179
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