Analytics

Portugal has the 14th largest gold reserve in the world, the value of which is equivalent to 10% of the country's GDP. Recently, the Central Bank of Portugal presented its gold bars to the public.

Jewelry company "Tata Group" (India) offers customers to buy yellow metal from ATMs. These special devices for selling gold coins were placed in more than 20 stores of the company throughout the country.

Gold is not healthy. In 2022, the cost of precious metal briefly exceeded the level of $2000 per ounce, after which it quickly dropped to below $1900. The yellow metal has been hit by the Fed's decision to raise interest rates.

Commodity trading means that raw materials are bought and sold, not finished products such as home, stocks or bonds. Raw materials are assets such as corn, coffee, wood or ore.

The increased demand for gold this year is due to the desire of investors to protect themselves from inflation. In March, the U.S. consumer price index stood at 8.5% - the highest since 1981.

Gold tends to rank prominently on the list of investment instruments. Unlike other assets, investing in the yellow metal gives investors a greater degree of confidence and security. Dragmetal is considered a practically risk-free way of storing wealth.

The Indian Center for Research in the Field of Yellow Metal has prepared a report "Gold Market for 2022" on the consumption of precious metal in the country's households. The report was prepared on the basis of a survey of 40 thousand households. It said per capita consumption of precious metal was the highest among wealthy people, but the lion's share of the yellow metal sales figure was still in the middle-income group.

Africa is becoming a major source of precious metal supply. Successes in this context have been reported in Zimbabwe. In 2021, a record volume of production was achieved in the country.

Yellow metal is sometimes called a "barbaric relic," citing British economist J. M. Keynes. However, gold is not going out of fashion, especially in times of crises, rising inflation and hostilities.

In January 2022, Swiss gold exports to China rose to their highest level since December 2016. This year, China imported 70 tons of Swiss gold, while in 2016 it bought only 14 tons of precious metal.