Gold Prices Drop 3% During Market Selloff
Stock image. Gold prices tumbled over 3% on Friday amid a broader market sell-off sparked by fresh remarks from US Federal Reserve officials that dimmed hopes of another rate cut. Spot gold fell to as low as $4,034.54 per ounce during the early morning trading, erasing most of its gains from the last few sessions […]
Illegal Mining Targets East Africa Metals Sites: Report
A view of an East Africa Metals project area in Ethiopia. Credit: East Africa Metals. Rising gold prices have resulted in alleged illegal mining activities taking place at two East Africa Metals (TSXV: EAM) properties in Ethiopia’s Tigray region, The Globe and Mail reported. Although the company insists the projects remain non-operational and inaccessible, witnesses including […]
Gold Prices Climb as Vote to Avert US Government Shutdown Approaches
Stock image. Gold advanced more than 1% on Wednesday ahead of a key vote that could end the US government’s longest-ever shutdown, which would offer economic clarity and set the stage for the Federal Reserve’s next move. Spot gold rose 1.3% to $4,179.12 an ounce, its highest since the week of October 20, when it […]
Rising Gold Prices Mask China’s Deflationary Struggles for the Time Being
Jewelleries on display at Luk Fook Jewellery store in Hong Kong. Stock image. Gold is a traditional hedge against inflation for investors but in China surging bullion prices are having the opposite effect, providing a temporary respite from deflationary pressures. Core inflation last month saw its fastest increase in almost two years, unexpectedly helping the […]
Column: Gold Price Surge Appears Significant, Yet Ranks Third in the Past 50 Years
Stock image. Gold’s recent retreat from a record high has led to questions as to whether the precious metal has run out of steam and is due for an extended period of sideways trading, as has happened in the past. It’s certainly the case over the last 50 years that whenever gold has enjoyed a […]
Gold Prices Recover Weekly Loss as US Rate Cut Probabilities Rise
Gold prices advanced on Friday to recover from a weekly loss, as traders weigh their outlook on US monetary policy following the release of private sector jobs data. Spot gold rose almost 0.5% to $3,995 an ounce by midday, having briefly touched the $4,000 level earlier. US gold futures saw similar gains, trading at just […]
Gold Prices Recover as Global Equities Decline
Stock image. Gold rebounded near the $4,000-an-ounce level on Wednesday as investors sought safety in the safe-haven metal following a slump in global stocks. Spot gold rallied as much as 1.5% to $3,989.53 an ounce, having fallen almost 2% the previous session. US gold futures also gained 1% to $3,996.50 per ounce. Gold’s recovery follows […]
China Abolishes Gold Tax Exemption, Impacting Key Bullion Market
Chinese gold ingot. Stock image. China is scrapping a long-standing gold tax incentive in a potential setback for consumers in one of the world’s top bullion markets. Starting on Nov. 1, Beijing will no longer allow retailers to offset a value-added tax when selling gold they bought from the Shanghai Gold Exchange, whether sold directly […]
Limited Optimism from the Fed and the Trump-Xi ‘Agreement’
Little to Cheer from the Fed OR the Trump-Xi “deal” Greetings, Investors! As usual, Michael Fox of The Prospector Podcast and I visited post-F.O.M.C. to unpackage yet another episode in the new series “The End Game of Financial Repression.” You can listen in RIGHT HERE or by clicking on the below graphic. It was […]
Global Gold Demand Reaches Record High with 3% Increase in Quarterly Investment, Reports WGC
Gold bars and gold coins. Stock image. Global gold demand rose by 3% year-on-year to 1,313 metric tons, the highest quarterly number on record, in the third quarter as investment demand soared, the World Gold Council said on Thursday. Spot gold prices are up 50% so far this year after hitting a record high of […]