Number of Millionaires and Gold Consumption

Today, there are about four times as many US dollar millionaires as there were at the turn of the century. In most countries, the real wealth of private households is growing. Crises and inflation can change this. The impact of inflation on the number of millionaires has increased since 2020. Globally, there were approximately 59.4 million millionaires by the end of 2022, which is 3.5 million fewer than at the end of 2021, meaning the number of millionaires has decreased. Citizens in the USA, Japan, the United Kingdom, Australia, Canada, and Germany have particularly lost millionaire status.

More than 2.6 million adults in this country are counted as millionaires. Among the countries where the number of millionaires has increased are Norway, Iran, or Brazil. Out of the total 59.4 million millionaires (as of 2022), the majority, 51.5 million people, possess wealth between one and five million US dollars. Around 4.6 percent still own more than ten million US dollars.

In 2022, there were approximately 6.23 million millionaires on the Chinese mainland and 630,000 in Hong Kong. China and India are experiencing a strong upward trend in the number of millionaires. Estimates suggest that by 2027, the number of millionaires in China will increase by 112 percent, a staggering figure. For comparison, the USA is projected to see only a 16 percent increase by 2027. This builds significant potential for consumption, for example. This could lead to a substantial increase in gold consumption in China and Hong Kong, driving up gold prices.

Gold has traditionally been used in China to safeguard savings and as a status symbol. If the gold price rises again, the stocks of gold companies are likely to benefit, often disproportionately. Examples of fundamentally sound gold companies include Caledonia Mining or Condor Gold.

Caledonia Mining – https://www.youtube.com/watch?v=qGXrqQBTnEA –  has been successfully producing gold at the Blanket Gold Mine in Zimbabwe for years and pays dividends. In the first half of 2023, the mine yielded nearly 35,000 ounces of gold.

Condor Gold – https://www.youtube.com/watch?v=BmM5prrcojE – focuses on three projects in Nicaragua. The highly efficient La India project (100 percent) covers 588 square kilometers and encompasses 98 percent of the historic La India gold mining area.

For current company information and press releases from Caledonia Mining (- https://www.resource-capital.ch/de/unternehmen/caledonia-mining-corp/ -).

In accordance with §34 WpHG, I would like to point out that partners, authors, and employees may hold shares in the mentioned companies and thus a potential conflict of interest may exist. No guarantee for the translation into German. Only the English version of these news is valid.

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