Prices climb upwards
Looking at the consumer price indices for the past month, it seems very unlikely that this is just a temporary phenomenon, as the central banks say. Over the year, food prices in this country rose by almost five per cent, super petrol became 27 per cent more expensive and light heating oil even a good 76 per cent more expensive. The inflation rate for September is 4.1 percent, the highest since 1993. Producer prices are rising, as are raw material costs, plus supply chain disruptions in all sorts of areas.
Heating costs are up a massive 33 percent in September compared to a year ago. On the one hand, it is the increased demand for energy during the recovery from the Corona pandemic and this worldwide. On the other hand, energy supply has tightened, for example because droughts in Brazil have reduced hydropower production. On top of that, there are the prices of carbon dioxide. Looking at Russia, while supply contracts with Europe were met, the increased demand beyond that was probably not. And it seems to go on, just now the price of gasoline is heading for a new high.
In the US, consumer prices rose by 5.4 percent in September. Now the US Federal Reserve has indicated a gradual reduction of its purchases. But the overall environment continues to support a strong gold price, as investors seek to preserve their capital as much as possible, and this can be achieved by investing in gold. With leverage, investing in gold stocks such as Maple Gold Mines or Ximen Mining can be rewarding.
With its partner Agnico Eagle, Maple Gold Mines - https://www.youtube.com/watch?v=khS4jifS3eg - is working on the Joutel and Douay gold projects in Quebec.
Ximen Mining - https://www.youtube.com/watch?v=zVqFPB0RALI - has several gold projects and a silver project in British Columbia. Drilling has just been approved at the Providence Silver Exploration Project, near the historic Providence Mine.
Current corporate information and press releases from Maple Gold Mines (- https://www.resource-capital.ch/en/companies/maple-gold-mines-ltd/ -).
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