The value of gold is as a primary store of wealth, and jewellery supply. If it was beholdent to one country with 63% of the market , and unstable at that, how would the price of the metal be reflected. Of course this is not the case. There are a large number of producing gold mines spread globally underpinning the market.
Now consider cobalt supply which is operating under this impost with Congo controlling 63% of the market . Cobalt is used in many industrial industries, but now 43% of the supply is being used for battery production in use in EV car manufacture. There is a growing deficit of supply which will continue to grow as the EV market really takes off in 2019/20. The amount of batteries required will increase at an alarming rate.The predominant supply of cobalt emerges as a byproduct of copper & nickel production . There are very few pure cobalt resources on the horizon so they will become extremely valuable IMO.
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The value of gold is as a primary store of wealth, and jewellery...
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