12 December 2022Gold was not allowed to close the past week above the $1,800 level which, at one time, it appeared to have breached fairly comfortably. It opened the current week a few dollars lower still and silver lost ground too, both showing nervousness ahead of this week's FOMC meeting and tomorrow's CPI data release, misplaced in our view.
09 December 2022The gold price moved through the $1,800 mark again in European trade today before being brought back down again when U.S. markets opened before recovering again, but silver prices remained positive. PPI inflation figures in the U,S, disappointed but there was some positive analysis from the WGC. Next week's FOMC meeting and CPI data should give further price guidance for gold and equities.
08 December 2022Latest data from the Shanghai Gold Exchange puts Chinese retail gold demand in November lower than in 2021, and even 2020 as well, suggesting that the Covid lockdowns and reduced global demand may be having an even greater impact on the country's economy than many had realised.
08 December 2022Media reports indicate that the Chinese Central Bank has reported a surprise increase in its gold reserve in November equivalent to 32 tonnes. Hitherto it has been reticent about reporting gold reserve increases, this being around the first time in 3 years it has reported any such changes
06 December 2022A 'surprise' scenario from Standard Chartered Bank's Head of Research, Eric Robertsen, sees the gold price rising to $2,250 and bitcoin falling to $5,000 next year if current patterns play out.
03 December 2022Gold breached the $1,800 level on December 1st, but fell back again quite sharply in early U.S. trade a day later before clawing its way back up again to end the week in the high $1,790s. Silver did rather better, although we are wary of its past somewhat erratic price performance. We remain confident on the future price performance for gold and, perhaps less so for silver, but are wary on equities and cryptos due to likely economic headwinds,
01 December 2022The combination of a more dovish statement from Fed Chair Jerome Powell and the latest PCE data release drove gold, silver, equities and bitcoin all higher in the U.S. and globally, with gold breaking through the $1,800 barrier at one time.
28 November 2022Latest statistics for the September quarter, as released by Surbiton Associates, show that Australia's gold output in the September quarter fell back by 7 tonnes from the record June quarter level, but remains on track for another for another plus 310 tonne calendar year total keeping it comfortably among the world's top three gold producers,
27 November 2022With the Thanksgiving holiday, Black Friday and the World Cup diverting attention away from the markets there was a relatively quiet week with most sectors performing mildly positively, perhaps encouraged by the release of the minutes from the November FOMC meeting which were taken as suggesting the Fed might start reducing its aggressive interest rate impositions as soon as December.
21 November 2022The Chinese mainland remained the top recipient for re-refined high purity gold exports from the Swiss gold refineries in October which continued to see the yellow metal flowing from West to East. However volumes to India slipped while exports to Turkey remained at a high level. Article updated with country-by-country destination chart.
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