Top 5 ASX Gold Mining companies
Within the earth's natural resources, gold is considered one of the most valuable metals due to its uncommon availability and unique physical characteristics.
By 2025, it is anticipated that global gold consumption will have stabilized below recent high levels, coming in at 4,450 tonnes. Rising jewelry consumption and a rebound in the market for high-tech manufacturing are predicted to be the main drivers of demand growth during this time. The consumption of jewellery is expected to increase significantly starting in 2024 and reach 2,350 tonnes by 2025.
Global gold supply is forecast to stabilize above 4,800 tonnes in the period to 2025, with increasing world gold mine production offset by decreasing supply from recycling activity. World gold mine production is forecast to rise by 1.4% a year on average by 2025 to 3,780 tonnes, led by gains in Canada, the US, Chile, and Brazil.
gold price and real us 10 year treasury yield
The allure of gold as a safe asset to protect against inflation or other risks tends to decline for institutional and retail investors as bond yields rise. This is due to the fact that rising yields on US Treasury bonds, or other reliable government bonds, raise the market's "risk-free rate," which in turn raises the opportunity cost of owning gold and drives down the bond prices. But after Russia invaded Ukraine, the correlation between real bond yields and gold prices fell precipitously, with prices rising due to increased demand for the metal as a safe haven. Since then, this has continued to be a factor, mitigating the impact of growing interest rates. (Reference: - Australian Government, Department of Industry Science and Resources, Resources and Energy Quarterly December 2023.)
Let’s take a look at some of the highly specialized ASX gold mining companies for 2024 in different sizes based on their market capitalization. These are as follows:
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