Digital Asset DirectAdobe's New Acrobat AI Assistant
News Media Group, Inc.
Contact Details News Media Group, Inc. Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/
April 18, 2024 07:00 AM Eastern Daylight Time
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News ReleaseHTX Participates as Sponsor in Blockchain Life 2024 Dubai, Driving Conversations on Cryptocurrency Adoption
HTX
HTX, a leading global cryptocurrency exchange, secured a prominent presence as a registration sponsor and a sapphire sponsor at Blockchain Life 2024 held in Dubai, United Arab Emirates from April 15 to 17. The decade-long exchange is committed to fostering innovation and development within the blockchain space. This strategic sponsorship not only allowed HTX to demonstrate its brand strength but also served as a platform to connect with a global audience of crypto enthusiasts and entrepreneurs, facilitating the widespread adoption of cryptocurrencies. HTX's professional and forward-thinking image resonated with attendees, garnering significant attention throughout the event. Additionally, HTX VIP Client Services Head Charmaine was invited to participate in theme-based panel discussions, where she engaged with industry experts to explore current trends, challenges, and prospects in the cryptocurrency market. On April 15, in a panel titled "Conductors in the World of Cryptocurrencies: What Top Exchanges Think about 2024?", Charmaine highlighted the burgeoning growth of DeFi, NFTs, metaverse, and AI over the past two years and the emergence of innovative technologies and projects, particularly within the early-stage AI sector. She also expressed that HTX, as a leading exchange, recognizes its responsibility to drive the development of these sectors. According to Charmaine, HTX outlined its plans to foster collaboration with developer communities, organize hackathons, and identify promising projects at an early stage. The exchange further pledged to support these premium projects through facilitated listings, expedited market entry, and strategic guidance for operational and market expansion – all aimed at propelling the Web3 ecosystem forward. Addressing security concerns, Charmaine emphasized HTX's commitment to user protection. The exchange leverages Merkle tree proof of reserves and third-party custody services such as Fireblocks to deliver a comprehensive security framework, ensuring a trusted trading environment. Additionally, a series of HTX-hosted events will take place in Dubai to connect with top ecosystem partners and projects in the industry, media friends, and the blockchain community. This includes “Core's Bitcoin Social Afterparty” hosted by Core Foundation and HTX Ventures, and an exclusive meetup with HTX’s key market makers in Dubai. Held on April 18, the highly anticipated HTX Dubai Whale Night will take place at an avant garde urban playground, Papa Dubai. Sponsored by DeepLink, a decentralized AI cloud gaming protocol, the theme of the event is "Innovators Unite, Pioneering the Frontier" and notable attendees include H.E. Justin Sun, a member of HTX Global Advisory Board, Edward, HTX Ventures Managing Partner, and Park JiHye, DeepLink CSO, who will each deliver a speech on the development of the cryptocurrency industry. Dubai, as a leading hub for global blockchain development, serves as a testament to HTX's global vision and confidence in the crypto market. HTX's active participation in Blockchain Life 2024 served as a springboard for extensive dialogues with policymakers, industry leaders, and global crypto communities, further solidifying its influence in the cryptocurrency space. Moving forward, HTX remains committed to proactive dialogue with the industry to explore innovations and collaborations on driving global adoption and application of cryptocurrencies and shape a more open and interconnected Web3 ecosystem. About HTX Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/
April 18, 2024 05:36 AM Eastern Daylight Time
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News Release4 Stocks To Watch As EV Demand Rebounds
VVPR, PLUG, ENVX, MULN
Contrary to the numerous mainstream reports that EV demand will be slowing down this year, the market is already showing solid signs of recovery. In China for instance, which is currently the world’s biggest EV market, EVs drove first-quarter sales growth, rising 31.8% to 2.09 million units, as automakers launched new models and cut prices. In the US, the number of newly introduced EV options that can go 300 miles or more on a single charge, which is considered the threshold for a long-range vehicle, increased to 30 models at the beginning of 2024, representing a 500% increase in three years. It is therefore no surprise that research firm Fastmarkets forecasts global EV sales growth will increase by 36% year-on-year in 2024, marking another year of consecutive double-digit growth rates. In other large emerging vehicle markets like India and Southeast Asia, the EV market has been gaining major traction thanks to increasing government support. Thailand and Malaysia both provide tax support for final EV purchases, while in the Philippines, as part of its push to develop the country’s EV sector, the government is looking to incentivize the manufacture of four million EV units in the next 10 years. That means that although EV stocks are down right now, the long-term fundamentals of the broader sector remain strong, and now would be the perfect time to spot undervalued companies. And it won't be only EV companies that will benefit from a rebound in demand; battery stocks will also benefit from the tailwinds of this trend. With that being said, here are four stocks that investors should consider adding to their watchlist as EV demand picks up again. VivoPower International (NASDAQ:VVPR) is a sustainable energy solutions company that believes sustainability doesn’t need to be expensive. This is why it has taken a differentiated approach to getting into the EV market. Through its subsidiary, Tembo, the company provides conversion kits with all the parts required to convert a vehicle from an internal combustion engine to an EV. Think motors, batteries, transmission, charger, software, and the rest of the components that make the converted vehicle work safely and seamlessly. Initially, these conversion kits are targeted at some of the most widely used utility vehicle models, including the Landcruiser and Hilux, which are designed to function in the harshest and most rugged terrains. The kits pack a 72kWh battery, which allows a 180 km to 190 km range as well as more pulling power and hill climbing capabilities than the diesel equivalent predecessor. Tembo’s value proposition is simple and straightforward. Its users will incur lower maintenance and operational costs, have less downtime, and won’t need expensive fuel infrastructure. So far, VivoPower International (NASDAQ:VVPR) has secured a commitment of 5000+ kits and an order pipeline of 10,000+, illustrating the company’s strong growth prospects. Those included an MOU in Jordan for 1,000 kits, opening a path to the Middle East, which is the largest Landcruiser market, and a definitive agreement in Kenya for 4,000 kits, providing entry into second-hand vehicle segments. Furthermore, the company signed a definitive joint venture agreement with Francisco Motor Corporation in September 2023 to develop and supply electric utility vehicle (“EUV”) electrification kits for a new generation of electric jeepneys (e-jeepneys) in the Philippines. In order to better position itself for this coming recovery, VivoPower International (NASDAQ:VVPR) recently revealed that Tembo would go public via a merger with Cactus Acquisition Corp. 1 Limited (CCTS), a NASDAQ-listed SPAC, and change its name to Tembo Group. CCTS will issue 83.8 million shares in exchange for Tembo shares at $10 per CCTS share, which implies a valuation of Tembo of $838 million. The deal, which will be finalized in May, will also see 16.76 million Tembo Dividend Shares distributed to VivoPower shareholders, who will receive 5 Tembo Group shares for each VivoPower share held. What that means is that even in a base-case scenario where Tembo share’s debut is at say $1 per share instead of $10, VVPR stock would surge to at least $28 per share. This incredible upside potential is further reaffirmed by the fact that VivoPower International (NASDAQ:VVPR) received a direct investment of $5 million into Tembo at a pre-money valuation of $120 million from a private investment office of a member of the ruling Al Maktoum family of Dubai. To further illustrate his confidence in the company, Vivopower announced that executive chairman and CEO Kevin Chin is increasing his individual shareholding in the company by 146,084 shares (about 4.4% of the outstanding shares) to increase his shareholding to 12.3%. Plug Power Inc. (NASDAQ:PLUG) is a global leader in hydrogen fuel-supply solutions and hydrogen applications for material handling, power generation, and e-mobility. The company’s end-to-end hydrogen value chain includes electrolyzers to make green hydrogen and the infrastructure needed to liquefy, store, transport, dispense, and convert hydrogen into carbon-free electricity. PLUG recently announced that it signed a contract to provide a significant U.S. electric vehicle manufacturer with hydrogen infrastructure and fuel cell technology for its material handling fleet. The automotive facility is one of the largest in the nation dedicated to electric vehicle and battery production, and under the agreement, Plug Power will supply the entire material handling fleet at the facility, including forklifts and tuggers, with its fuel cell solutions. The partnership also includes the installation of on-site hydrogen infrastructure, such as two liquid hydrogen storage tanks and over 10 hydrogen dispensers, to support the facility's expansion into hydrogen applications. Plug Power will begin the installation and commissioning of the hydrogen infrastructure in 2024, with the facility anticipated to be fully operational by the first quarter of 2025. Although the company has not yet achieved profitability, CFO Paul Middleton gave some interesting insights into why the company was facing problems at the JPMorgan 2024 Industrials conference. Basically, PLUG has been subsidizing the hydrogen fuel market as it waits for its own production plants to come on line. The Georgia plant finally came on line in January Enovix Corp. (NASDAQ:ENVX) develops high-performance batteries, leveraging its more than 626 technology patents and patent applications globally. The company recently announced it has been granted 15-year Pioneer Status from the Malaysian Investment Development Authority (MIDA) for manufacturing its batteries in its high-volume manufacturing facility by the name Fab2. Enovix’s Pioneer Status application was approved by the Government of Malaysia for the manufacture of lithium-ion batteries within the country for 15 years, with the primary benefit of this status being an exemption from the payment of income tax, subject to meeting certain conditions In July 2023, Enovix and YBS International Berhad, a Malaysia-based investment holding company, signed a Master Service Agreement to support Enovix’s Fab2 site. Since then, Enovix has made significant progress, establishing Fab2, hiring nearly 100 team members and building out approximately 250,000 square feet of factory space. Earlier this month, the company revealed that it had completed Factory Acceptance Testing (FAT) for its Gen2 Agility Line and is on track to produce the first silicon battery samples from Fab2 in the second quarter of 2024. “SAT (Site Acceptance Test) is also well underway. Both FAT and SAT processes ensure that we only place machines into service that meet our specifications for throughput, yield, and machine uptime," said Ajay Marathe, Chief Operating Officer at Enovix. The company has had a successful start to the year, reporting a remarkable fourth-quarter revenue increase to $7.4 million, which beat estimates by an impressive $3.96 million. Moreover, its massive sales grew by 575.3% on a year-over-year basis, underscoring its powerful positioning in its niche. Microvast Holdings, Inc. (NASDAQ:MVST) designs, develops, and manufactures lithium-ion battery solutions. The company was founded in 2006 and went public in July 2021 through a merger with SPAC Tuscan Holdings in a deal valued at over $700 million in cash. The company recently reported FY 2023 earnings, revealing a significant year-over-year revenue increase of 49.9% to $306.6 million, with a record quarterly revenue of $104.6 million in Q4 2023, representing a 61.4% increase. The company's financials, particularly in gross margin improvement and revenue growth, clearly illustrate its increasing efficiency and market penetration, especially in the EMEA region. Microvast's founder and CEO, Yang Wu, has expressed optimism about the company's trajectory, citing revenue growth in EMEA as a positive sign for continued success in 2024. Institutional investors are already taking a keen interest in the company, with Vanguard Group recently growing its holdings in the company by 8.9% in the 3rd quarter, according to its most recent 13F filing. The fund owned 12.5 million shares of the company’s stock after purchasing an additional 1 million shares during the quarter, representing 3.95% of Microvast shares worth $23.6 million. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, assumptions, objectives, goals, or assumptions of future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements, indicating certain actions & quotes; may, could or might occur Understand there is no guarantee past performance is indicative of future results. Investing in micro-cap or growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor’s investment may be lost or due to the speculative nature of the companies profiled. Capital Gains Report (CGR) owned by RazorPitch Inc. is responsible for the production and distribution of this content. CGR is not operated by a licensed broker, a dealer, or a registered investment advisor. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. CGR has been retained by VivoPower International PLC. to produce and distribute content related to VVPR. As part of that content, readers, subscribers, and webs are expected to read the full disclaimers and financial disclosure statement that can be found on our website https://capitalgainsreport.com. All content in this article is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. CGR is not a fiduciary by virtue of any persons use of or access to this content. Contact Details CapitalGainsReport Mark McKelvie +1 585-301-7700 markrmckelvie@gmail.com
April 18, 2024 05:00 AM Eastern Daylight Time
News ReleaseBitcoin's 4th Halving Is Approaching! Vie for 30,000 USDT in HTX's Bitcoin Halving-Themed Trading Contest
HTX
The 4th Bitcoin halving event is expected to occur on April 20, after which mining rewards will be reduced from 6.25 BTC to 3.125 BTC per block. Currently, the crypto market is unstable, with Bitcoin price hovering around the $63,000 mark. To commemorate this momentous occasion, HTX is rolling out a Bitcoin Halving-Themed Trading Contest! Traders can compete for a share of the 30,000 USDT prize pool by engaging in spot, futures, or margin trading of BTC-related cryptocurrencies. As per HTX's official announcement, the event kicked off at 12:00 (UTC) on April 17. Traders can split a prize pool of 30,000 USDT by trading BTC, BCH, LTC, ETC, and CORE in spot, futures, or margin. The event, comprising a Spot & Margin Trading Contest and a Futures Trading Contest, is scheduled to last for eight days, starting from 12:00 (UTC) on April 17 until 12:00 (UTC) on April 25. Event 1: [Spot & Margin Trading Contest] Trade Designated Cryptos in Spot to Split 5,000 USDT Trading BTC, BCH, LTC, ETC, and CORE in spot and margin during the event period, participants are eligible to share the 5,000 USDT prize pool based on their spot and margin trading volumes. Moreover, users engaging in margin trading for BTC/USDT, BCH/USDT, LTC/USDT, ETC/USDT, and CORE/USDT will have their trading volume multiplied by 2 times for this event. Throughout the event, users who visit the event page on any given day will be automatically enrolled in the event, and their trading volume during the event period will be calculated. Failure to do so will disqualify users from receiving any rewards. Event 2: [Futures Trading Contest] Trade Futures on Designated Cryptos to Split 25,000 USDT During the event, participants trading USDT-M futures on designated cryptos (including futures copy trading) can share a prize pool of 25,000 USDT in Futures Trial Bonuses based on their cumulative futures trading volume rankings. Refer to the following table for details. The 1st place winner will secure a reward of 5,000 USDT in futures trial bonuses. Users need to click Register Now to participate in the Futures Trading Contest. The total prize pool of this event is set at 30,000 USDT. Rewards will be credited to winners' HTX accounts within 14 working days after the end of the event. While continuing to provide a secure and diverse trading experience, HTX is committed to offering new opportunities for wealth growth to users worldwide by following industry events closely. https://www.htx.com.ec/support/en-us/detail/64967651911076 About HTX Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/
April 18, 2024 03:41 AM Eastern Daylight Time
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News ReleaseOcean Power Technologies looks to expand growth teaming with major defense contractor
Ocean Power Technologies Inc
Ocean Power Technologies CEO Philipp Stratmann joined Steve Darling from Proactive to unveil a groundbreaking development: the signing of a teaming agreement with a major international defense contractor. This strategic alliance is poised to propel maritime domain awareness to new heights by leveraging OPT's innovative Merrows suite of solutions. In his discussion with Proactive, Stratmann elucidated that the teaming agreement grants the international contractor exclusive rights to provide OPT's Maritime Domain Awareness Solution (MDAS) within specified geographic regions. This collaboration represents a fusion of OPT's cutting-edge technology with the contractor's unparalleled expertise in defense, homeland security, and commercial programs, aiming to fortify capabilities in maritime security and surveillance. At the heart of this collaboration lies MDAS, a revolutionary solution developed by OPT that integrates state-of-the-art data collection and analysis capabilities. By harnessing autonomous marine platforms such as vehicles and buoys, coupled with advanced sensors and data analytics, MDAS delivers comprehensive maritime surveillance, tracking, and monitoring capabilities. This real-time situational awareness empowers stakeholders across various sectors, including defense, environmental monitoring, and search and rescue operations. The partnership between OPT and the international defense contractor heralds a new era of innovation and collaboration in the realm of maritime domain awareness. By pooling their respective strengths and resources, the two entities are poised to enhance security and safety in key maritime regions, safeguarding vital interests and promoting stability in an ever-evolving global landscape. As OPT continues to push the boundaries of technological innovation, this partnership underscores the company's commitment to advancing maritime security and sustainability. Stay tuned for further updates as OPT and its collaborators pave the way for a safer and more secure maritime domain, empowered by cutting-edge solutions and strategic partnerships. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
April 17, 2024 02:47 PM Eastern Daylight Time
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News ReleaseNevada Lithium CEO discusses innovative mining model proposed at Bonnie Claire
Nevada Lithium Resources Inc
Nevada Lithium CEO Stephen Rentschler joined Steve Darling from Proactive to provide an insightful update on the proposed Hydraulic Borehole Mining (HBHM) method earmarked for extracting high-grade mineralized material at the Bonnie Claire lithium project in Nevada. Shedding light on the latest developments, Rentschler revealed that Kinley Exploration has furnished a working model based on HBHM, demonstrating its efficacy in extracting mineralized slurry from depths ranging between 1500 feet and 2500 feet at Bonnie Claire. The focus of this model is on the extraction of previously intersected high-grade mineralization, notably highlighted by intersections such as the one in Hole BC2303C, which revealed a remarkable concentration of 4,154 ppm lithium over a span of 680 feet. This data serves as a testament to the project's substantial lithium potential and underscores the viability of the HBHM approach in unlocking this value. Moreover, Rentschler disclosed that Nevada Lithium is embarking on the task of updating its 2021 Preliminary Economic Assessment (PEA) to incorporate recent developments. This updated PEA will encompass drilling data from 2022 and 2023, including lower high-grade mineralization such as that observed in Hole BC2303C. Detailed modeling of the hydraulic mining method will be conducted, encompassing parameters such as production rates, capital expenditures (CAPEX), operating expenditures (OPEX), and projected water usage. Furthermore, the company will undertake an update of its metallurgical work, showcasing its ability to produce battery-grade lithium carbonate at the scale of a bulk sample of mineralized sediment. This critical step underscores Nevada Lithium's commitment to ensuring the feasibility and scalability of its lithium extraction process, paving the way for commercial production in the future. As Nevada Lithium forges ahead with its comprehensive update and refinement of project parameters, the company remains steadfast in its mission to unlock the full potential of the Bonnie Claire lithium project. Stay tuned for further updates as Nevada Lithium continues to advance towards its goal of becoming a leading player in the lithium market, poised to meet the burgeoning demand for this critical component of the clean energy transition. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
April 17, 2024 02:43 PM Eastern Daylight Time
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News ReleaseNextSource Materials on track with building of Battery Anode Facility in Mauritius
Nextsource Materials Inc
NextSource Materials Executive Vice President Brent Nykoliation joined Steve Darling from Proactive to unveil the latest advancements in the development of the company's Battery Anode Facility (BAF) located in the Freeport Zone of the port of Port-Louis, Mauritius. Through meticulous planning and a rigorous site selection process, NextSource Materials has achieved a significant milestone by securing a long-term lease agreement for the site, marking a pivotal step forward in the establishment of its inaugural BAF plant. Nykoliation elaborated on the company's progress, highlighting the integration of engineering enhancements into the plant's design and the initiation of the environmental permitting process (EIA). This strategic approach underscores NextSource Materials' commitment to adhering to stringent environmental standards while ensuring operational efficiency and sustainability. In a testament to its forward-thinking approach, the company has pre-ordered process equipment boasting a production capacity of 3,600 tonnes per annum of spheronized and purified graphite, a critical component in battery anode production. The fabrication and assembly of this cutting-edge equipment are currently underway offshore, with plans for shipment to Mauritius upon the completion of the EIA process. Concurrently, NextSource Materials has already taken delivery of SuperFlake graphite concentrate from the Molo Mine and essential equipment for the operation of a small-scale pilot line at the site. This proactive measure aims to streamline the production of samples for key original equipment manufacturer (OEM) customers, thereby accelerating the commercialization process. Looking ahead, NextSource Materials is poised to unveil an updated economic assessment for the BAF site, offering stakeholders a comprehensive overview of the project's financial viability and potential returns. The forthcoming announcement reflects the company's unwavering commitment to transparency and accountability, providing investors with valuable insights into the economic prospects of its operations. Contact Details Proactive North America Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com
April 17, 2024 02:41 PM Eastern Daylight Time
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News ReleasePower Nickel expands near surface copper, platinum, and palladium 5 km away from Main Nisk Deposit
Power Nickel Inc
Power Nickel Inc CEO Terry Lynch joined Proactive to share the exciting news of the initial assay results for hole PN-24-044, a pivotal component of the company's ongoing drill program at the Lion Discovery site. The outcomes have been overwhelmingly positive, with 15 out of 16 holes yielding promising results. Among the highlights, PN-24-044 revealed an impressive intersection, boasting 0.60 meters of 24.3 grams of gold, 5.7 grams of silver, 5.29% copper, 3.26 grams of palladium, 0.29 grams of platinum, and 3.31% nickel. These remarkable findings underscore the rich mineralization potential of the Lion Discovery area. The ongoing drill program, characterized by a standard fan drilling design, has been instrumental in systematically probing the presence of the mineralized zone. Thus far, the results have been nothing short of exceptional, with the current mineralized envelope extending to a minimum depth of 300 meters below the surface and spanning a lateral distance of at least 225 meters. Importantly, the mineralization remains open in all directions, hinting at the possibility of further discoveries. Based on the current interpretation, the mineralized zone is situated at the contact with the ultramafic rock, exhibiting a sigmoidal geometry. Notably, a high-grade shoot has been identified, steeply plunging to the north-northeast (NNE), adding another layer of complexity and excitement to the exploration efforts. As Power Nickel continues to analyze and interpret the data from its ongoing drill program, anticipation mounts for the release of additional assay results. These forthcoming findings are expected to provide further insights into the extent and richness of the mineralization at the Lion Discovery site, bolstering the company's confidence in its exploration endeavors. With each successful drill hole, Power Nickel edges closer to unlocking the full potential of the Lion Discovery area, reaffirming its commitment to value creation for its shareholders and stakeholders alike. Stay tuned for more updates as the company advances its exploration efforts and continues to unearth new opportunities in the dynamic world of mineral exploration. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
April 17, 2024 02:40 PM Eastern Daylight Time
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News ReleaseUS Global Investors says Costco’s Gold Sales are Shaking Up the Market
U.S. Global Investors
U.S. Global Investors CEO Frank Holmes joined Steve Darling from Proactive to delve into the enduring allure and recent market dynamics surrounding gold. Over the span of the century, gold has consistently proven its mettle, outperforming the S&P 500 by an impressive margin of 50%. This enduring value of gold has been influenced by a myriad of factors, including deliberations among G20 finance ministers, central bank policies, and the tenets of modern monetary theory (MMT). Holmes underscored the significant role played by central banks in bolstering gold's prominence, noting a trend of consistent acquisitions dating back to 2010. Over the past two years alone, central banks have collectively added an average of 1000 tonnes of gold to their reserves annually, underscoring their enduring faith in the intrinsic value of this precious metal. Moreover, Holmes highlighted a fascinating retail trend that has emerged in recent times, exemplified by Costco's remarkable success in selling $100 million worth of gold wafers in a short span. Notably, a substantial portion of these sales were attributed to professional Asian women hailing from China and India, reflecting a deep-seated cultural affinity for gold within these demographics. This demographic segment, accounting for 60% of gold demand, is often referred to by Holmes as "the great love trade." The discussion further delved into the evolving landscape of gold purchasing, with notable shifts such as the Bank of Nova Scotia's exit from the gold market. In light of such developments, retailers like Costco have stepped up to meet consumer demand, making gold more accessible to a wider audience. Looking ahead, Holmes offered insights into potential future trends, including the anticipated impact on junior gold mining stocks and broader retail implications. He hinted at the possibility of gold's availability expanding into mainstream retail outlets, envisioning a scenario where major stores like Walmart could soon offer gold as part of their product offerings. As the conversation unfolded, it became evident that gold's enduring allure transcends mere investment value, embodying a cultural and historical significance that continues to resonate with investors and consumers alike. Stay tuned as U.S. Global Investors continues to navigate the intricate dynamics of the gold market and uncover opportunities for investors in this precious metal. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com
April 17, 2024 02:37 PM Eastern Daylight Time
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