You are here
Gold demand to hit record with central bank buying, gold council says
Will price suppression hit a record too? The council didn't say.
* * *
By Yvonne Yue Li
Bloomberg News
Wednesday, January 31, 2024
Total gold demand hit a record last year and is expected to expand again in 2024 as the U.S. Federal Reserve moves toward cutting interest rates, potentially aiding prices, according to the World Gold Council.
Overall consumption climbed by about 3% to 4,899 tons last year, supported by strong demand in the opaque over-the-counter market, as well as from sustained central-bank buying, according to the WGC's full-year report. That's the highest total figure in data going back to 2010.
... Dispatch continues below ...
... ADVERTISEMENT ...
First Majestic Mines Silver and Gold
in Mexico and Operates Bullion Store
First Majestic is a publicly traded mining company focused on silver and gold production in Mexico and the United States. The company owns and operates the San Dimas silver and gold mine, the Santa Elena silver and gold mine, and the La Encantada silver mine as well as a portfolio of development and exploration assets, including the Jerritt Canyon gold project in northeastern Nevada.
In 2024 these mines are projected to produce between 21.1 to 23.5 million silver-equivalent ounces, consisting of 8.6 to 9.6 million ounces of silver and 150,000 to 167,000 ounces of gold, with an all-in sustaining cost of $19.32 to $20.68 per payable silver-equivalent ounce.
For information about the company, visit:
https://www.firstmajestic.com/
In a practice unique to First Majestic, the company offers a portion of its silver production for sale to the public. Bars, ingots, coins, and medallions are available for purchase online at the company's bullion store at some of lowest premiums available.
In Q1 2024 First Majestic will also commence bullion production from its 100%-owned and operated minting facility, First Mint LLC, to manufacture its own exceptional silver bullion products catering to the growing demand for physical silver.
"The landscape is appropriate for emerging central banks to continue to be net buyers," Joseph Cavatoni, chief market strategist at the WGC, said in an interview.
The council sees a strong case for record buying by countries such as China and Poland, he said. ...
... For the remainder of the report:
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
