China needs gold

China is the world’s largest consumer of gold. Compared with the first three months of the previous year, demand for coins and bars rose by 20.5 percent. Gold jewelry was up 12.3 percent. A decline in gold consumption was recorded in the industrial and other sector. Gold production was up 6.9 percent in the first quarter of 2023. Gold is in high demand, so it’s no surprise that there are always counterfeits and crimes related to the precious metal. Just recently, six Chinese were arrested for carrying almost 200 counterfeit gold bars. The counterfeit gold was accompanied by real gold, which they cut into pieces in order to convince their victims of its authenticity. The fraud had a value of about 265,000 euros. The perpetrators also claimed to own a gold mining concession.

So, all in all, China needs quite a bit of gold imports to meet demand. The Middle Kingdom itself produced about 330 tons of gold last year. The second-placed country, Australia, produced a good 320 tons of gold. Worldwide gold production in 2022 was around 3,100 tons. Since 2008, the annual global gold production volume has been increasing. Since 2015, it has always been above 3,000 tons. In terms of the largest gold reserves of central banks and states, the United States is in the lead, followed by Germany. Investors who want to invest part of their portfolio in gold, but who are also looking for diversification in the gold sector, can add stocks of royalty companies to their portfolio.

Here, Osisko Gold Royalties – https://www.commodity-tv.com/play/osisko-gold-royalties-ceo-update-on-2023-catalysts-and-growth-outlook/ – pleases with its commitment to North America. 2022 brought the company record revenues from streams and royalties.

The successful and dividend-paying company GoldRoyalty – https://www.commodity-tv.com/play/gold-royalty-strong-growth-of-royalty-revenue-in-tier-1-jurisdictions/ – is focused on North, Central and South America. Further growth is expected in 2023.

Current corporate information and press releases from GoldRoyalty (- https://www.resource-capital.ch/en/companies/gold-royalty-corp/ -) and Osisko Gold Royalties (- https://www.resource-capital.ch/en/companies/osisko-gold-royalties-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.

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