In the Indian gold market, pledging gold as collateral for loans is nothing special.
When Indians need financing, they often pawn their gold, both private and small companies. Caused by the corona pandemic, the demand for gold loans has grown significantly. As the World Gold Council found out, as of the third quarter of 2019, 52 percent of investors had already invested in some form of gold.
Over the past decade, gold has also shown better returns than any other asset class. Gold in the form of jewelry or as an investment is popular with Indians. Gold is often used as a symbol of social status and financial security. Rural households used gold early on in order to have money to grow the crops the following year. Today the gold credits are used more for health, education and marriage expenses.
The gold inventory in India is estimated to be 25,000 tons, most of which is held by households. This is followed by temples and institutions. Gold is the preferred means of the Indian people to obtain capital, to secure liquidity and to have a source of finance.
The pledging of gold is also promoted through online opportunities. The organized gold credit market in India continues to grow. In this country too, gold and the involvement in gold companies such as International Consolidated Uranium or Fury Gold Mines contribute to a well diversified portfolio and offer security.
International Consolidated Uranium is pursuing high quality gold projects. The Pilbara Project in Western Australia and the Mt. Roe Gold Project are in the early stages. The Kuulu Project is located in Nunavut, Canada, near Agnico Eagle Mines’ Meliadine gold mine. Other projects are already on the company’s screen.
Another exploration and development company, Fury Gold Mines – https://www.youtube.com/watch?v=he-HXzHsavE – is also focused on productive mining areas located in Canada. A 50,000 meter drill program has commenced on one project, the Eau Claire Project in Quebec.
Current company information and press releases from Fury Gold Mines (- https://www.resource-capital.ch/de/unternehmen/fury-gold-mines-ltd/ -).
In accordance with Section 34 of the WpHG, I would like to point out that partners, authors and employees can hold shares in the respective companies addressed and that there is thus a possible conflict of interest. No guarantee for the translation into German. Only the English version of these messages applies.
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Responsible for this press release:
JS Research UG (limited liability)
Mr. Jörg Schulte
Bergmannsweg 7a
59939 Olsberg
Germany
fon ..: 015150268438
web ..: http://www.js-research.de
email : [email protected]
Press contact:
JS Research UG (limited liability)
Mr. Jörg Schulte
Bergmannsweg 7a
59939 Olsberg
fon ..: 015150268438
web ..: http://www.js-research.de
email : [email protected]
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