Analytics

The Governor of Tennessee signed a bill on May 29, 2022 to repeal the sales tax on precious metals. Previously, the bill was overwhelmingly supported by both houses of the state legislature. The decision is the result of years of efforts by community organizations, grassroots activists and coin dealers in Tennessee.

In early May, a congress of the Numismatists Society was held in the Central Provinces of Canada. As part of the event, the Heritage Auctions auction was held, at which interesting Canadian coins for collectors were exhibited as lots.

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.