April 20, 2021

China is one of the largest gold consumers in the world, but the pandemic has put the market in turmoil as supply couldn’t match. This has elevated domestic prices high above the international rates. However, China has permitted banks to import Gold into the country. This could be a boom to world gold prices as the country plans to invest $8.5 billion into imported gold in April for April and May supply. Vaccines and stimulus have halted Gold’s growth as of late but a fundamental shift from a major bullion consumer might turn the market bullish.

(New York)

FINSUM + Magnifi: Macro factors have been in gold’s favor in theory but in practice, the price hasn’t budged. However, legal changes to import laws would change the landscape for the precious metal.

Other news today: Big Tech’s Winners and Losers as the Pandemic Fades and Goldman Says these S&P Losers Could become Outperformers

{{cta(‘031ca73e-408c-41ef-9886-bfe7cd5553d7’)}}

Magnifi is changing the way we shop for investments, with the world’s first semantic search engine for finance that helps users discover, compare and buy investment products such as ETFs, mutual funds and stocks. As of April 2021, 300,000+ users with $500+ Billion in Assets Under Influence, have used Magnifi over 1,500,000 times. Try it for yourself today.

 

This blog is sponsored by Magnifi. The information and data are as of the publish date unless otherwise noted and subject to change. This material is provided for informational purposes only and should not be construed as individualized investment advice or an offer or solicitation to buy or sell securities tailored to your needs. This information covers investment and market activity, industry or sector trends, or other broad-based economic or market conditions and should not be construed as investment research or advice. Investors are urged to consult with their financial advisors before buying or selling any securities. Although certain information has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness. Past performance is no guarantee of future results. This content may not be reproduced or distributed to any person in whole or in part without the prior written consent of Magnifi. [As a technology company, Magnifi provides access to tools and will be compensated for providing such access. Magnifi does not provide brokerage or custody services.]