Gold News

Cryptocurrencies have suffered further heavy selling this week following the near-collapse and bailout of FTX, one of the world’s biggest crypto exchanges.

Demand for gold remains high in 2022, with central bank buying and bullion demand in particular boosting the precious metal back to pre-Covid levels.

Gold and silver have enjoyed a very strong week so far, pushing the metals up to a three-week and three-month high respectively in USD. Following a difficult summer, all precious metals saw a quick rebound in price this week.

Central banks around the world continue to raise interest rates to multi-year highs as inflation runs rampant and the dollar exerts its dominance against other currencies.

The Euro has sunk to a 20-year low against the Dollar this week as energy prices continue to soar, threatening a sharp downturn and winter crisis for much of Europe.

Zimbabwe have recently launched a new national gold coin, offered to citizens as a store of wealth and hedge against inflation. The new coin is already proving popular, and is a timely reminder of gold’s long history as money, and its ongoing status as a safe haven around the world.

Inflation in Europe's largest economy rose to 7.4% for April according to the latest figures from Destatis – Germany's federal statistical office. This makes it the highest level since unification.

China's premier stock market the CSI 300 suffered a 4.9% fall today following the Chinese government's decision to begin mass testing residents in the nation's capital.

Market analysts are forecasting three 0.25 point rises to the Eurozone’s interest rate in 2022, in response to hawkish comments from policy makers within the ECB. This is despite the latest revision of Eurozone inflation.

France's chief stock market, the CAC40, has been in decline for the past five days as opinion polls surrounding the upcoming French Presidential Election put far-right candidate Marine Le Pen a fraction behind incumbent Emmanuel Macron in the second-round runoff for president.

The United States Treasury has blocked access for the Russian government to use US banks for bond payments, forcing Russia to either pay in dollars from its own reserves or to default.

Defaulting would anger investors who have previously dealt with Russia, and would further damage their already-deteriorating reputation globally.

Gold and silver have seen volatility so far this week on growing tensions over Ukraine and Russia. Increasing rhetoric and warnings of a potential invasion have spooked stock markets, and spurred safe haven buying from investors.

The Central Bank of Ireland has added 2 tonnes of gold to its reserves this year, with gold purchases in September and October.

Gold is currently $1,808 per ounce after shooting up last Friday following comments by Federal Reserve chairman Jerome Powell at the Fed's annual Jackson Hole conference on Friday. 

After a strong week of trading, the gold price has seen a small rise following the release of the minutes from the latest Federal Reserve committee meeting in the US.

Both the US and UK have reported further rises to inflation this week, in further signs that central banks may be wrong to claim inflation is just a transitory issue.

The consumer price index for June showed prices have risen by 5.4% year on year in the US, the highest …

Gold has seen a small boost in price this week following further signs that central banks are once more buying gold. Gold reserve purchases had largely stopped throughout 2020, as central banks focused on the economic toll of Covid-19, but there are increasing signs that purchases have resumed.

Gold and silver have both seen steady gains for several weeks now, in a strong rally for precious metals. The gains come as investors turn to safe havens to protect their wealth in what appears to be an increasingly inflationary market.

Inflation in the United States has risen by 1.2% in the last month to 3.1% overall; the highest recorded levels measured by the core personal consumption expenditures (PCE) index since the early 1990s.

Using the PCE index, Bureau of Economic Analysis reported inflation at 1.9% at the end …

Global stock markets are trading at monthly lows this week as resurging Covid-19 infections force more governments to introduce strict lockdowns.