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WGC Unveils Social Responsibility Report by the Gold Industry
BySirhcAccording to the report, the pandemic has had an impact on businesses across the globe. SEATTLE (Scrap Monster): The Gold Responsibility & Paramount Mission” summit held in Beijing on November 6th provides social responsibility report by the gold industry on prevention and control during times of crisis. The report, prepared jointly by the China Gold Association, Shanghai…
Gold may eclipse dollar as reserve currency after outsize coronavirus spending: Goldman Sachs
BySirhcThe U.S. dollar’s longstanding status as the world’s reserve currency is at risk after the greenback’s weakening by unprecedented government efforts to shore up the economy during the COVID-19 pandemic, according to Goldman Sachs Group Inc. Ballooning federal debt levels and a potential shift in favor of inflation at the Federal Reserve amid increased geopolitical hostilities, domestic unrest and an onslaught of new…
Robust Gold Yields in the Cards
BySirhcSource: By Bart Melek, Global Head of Commodity Strategy, TD Securities After over a decade scraping the bottom, 12-month gold lease rates have moved distinctively higher to trend above 50 bps, as US monetary policy started to tighten aggressively. With the Fed continuing to take rates higher in the face of sky-high inflation, real interest…
Gold shatters ‘summer doldrums’ as it climbs to record territory
BySirhcMost-active gold contract nears all-time high, as front-month contract scores a record The gold market saw a lot of excitement on Thursday, with its climb over the last five sessions in a row ultimately lifting prices into record territory. “Ordinarily this is the quiet time for gold—summer doldrums,” said Ross Norman, chief executive officer of…
Gold prices slide as bond yields and the dollar firm
BySirhcCommodity investors await Powell’s Jackson Hole speech Gold futures on Wednesday edged slightly lower, hovering around the unchanged mark, as a rise in bond yields and the U.S. dollar, both bearish factors for bullion, weighed on precious metals. The moves come ahead of a highly anticipate speech from Federal Reserve Chairman Jerome Powell, who is…
Silver Price Analysis: XAG/USD seems poised to retest multi-month high, north of $24.00
BySirhcSource: By Haresh Menghani Silver catches fresh bids on Tuesday and rallies to the $24.00 neighbourhood. The technical setup favours bulls and supports prospects for additional gains. A break below the $22.80 confluence is needed to negate the positive outlook. Silver gains strong positive traction on Tuesday and rallies to a fresh daily high, back closer…