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Gold investments

Of course, when calling gold "the yellow devil" people weren't sincere and attributed their own weaknesses, greed and pathological thirst for enrichment to this rare precious metal. However, it is difficult not to pay attention to the fact that in the world's history, it were the unstable periods in the development of the human civilization that became the times of the real deification of gold and the pursuit towards possessing it. The current unstable situation caused by the COVID-19 pandemic has affected the price of all raw materials the mankind uses and the demand for gold has also changed. In truth, that change has been quite peculiar ... If we talk about the jewelry industry in the world's economy, due to massive cuts of unnecessary expenses by people in these unstable times, the demand for gold from the jewelry industry has decreased by 46%. The central banks of the world's leading countries have also reduced their gold purchases by 39% focusing on selling the existing reserves since the situation with the pandemic requires the countries to spend large currency investments in the fight against the coronavirus and to keep their economies afloat. The technology sector has also been affected by constant lockdowns and quarantine restrictions which caused disruptions in its operations and the descrease of gold consumption for manufacturing needs by 13%. At the same time, investment demand for gold during the period has increased by 90%, reaching 1131 tons, which is the highest volume in the last 10 years! Whatever one may say, the increase in the number of cases of COVID-19 infections and the expansion of restrictive measures are having a positive effect on the price of the "yellow devil". Analysts assure that in general, all of the abovementioned negative factors of instability play into the hands of gold, leaving this precious metal the only fairly reliable instrument for preserving finances in in the medium term. Moreover, experts expect an increase in demand for the precious metal by the end of the year when gold prices begin to gradually return to pre-crisis levels, which means that investors will not only preserve their capital, but have every chance of receiving serious profits from their today's investments.


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