A policy approved by the UAE Cabinet on Sunday aimed at strengthening the country's position in the gold and jewellery sector is a vital step for the future growth of the industry, experts say.
“The new policy will enhance transparency as it will enable the tracking of gold. It will be positive for the growth of the industry,” said Tawhid Abdullah, chairman of Dubai Gold and Jewellery, a... read more
Two of the biggest gold purchasers this year bought a total of 251 tonnes of the yellow metal combined, INTL FCStone reported.
“China and Russia have added a reported (and estimated) 251t of gold so far this year,” wrote Rhona O’Connell, INTL FCStone head of market analysis for the EMEA and Asia regions.
China added 106 tonnes of gold to its official reserves in 2019, while Russia... read more
There has been a significant boost in the number of investors entering the gold market as they hedge against the collapsing British pound amid Brexit drama this year, said Goldex CEO and founder Sylvia Carrasco.
Gold in British pounds hit new record highs in September as fears of no-deal Brexit drove investors towards gold, Carrasco told Kitco News.
“Brexit has been driving gold in pounds ... read more
Forever synonymous with wealth, gold has been the most coveted mineral on earth since its first recorded use back in 3000 BC.
From Ancient Egypt to the U.S. Treasury its history is one of war, death, love and prosperity.
But how did this most precious of precious metals actually get here? How much gold is there in the world? And, most importantly, how can you get your hands on it?
Gol... read more
(Kitco News) The precious metals sector will continue to beat other commodities as gold prices follow palladium to record highs, according to Bloomberg’s October commodity update.
Gold is looking to accelerate its gains into year-end with the macro environment supporting higher prices, said Bloomberg Intelligence senior commodity strategist Mike McGlone.
“Gold will remain at the top o... read more
(Kitco News) - Gold and silver prices are solidly higher in midday U.S. trading Wednesday on safe-haven demand as risk aversion has up-ticked markedly at mid-week. World stock markets are in sell-off mode on concerns regarding slowing global economic and trade growth. December gold futures were last up $17.90 an ounce at 1,506.90. December Comex silver prices were last up $0.388 at $17.695 an o... read more
LONDON (Reuters) - The euro was pinned at more than two-year lows on Friday as a steady drip of negative economic data this week sapped investor demand for the single currency while the dollar benefited from some quarter-end rebalancing flows.
Dismal business activity data from the euro area, especially powerhouse economy Germany at the start of the week, has pushed European bond yields lower... read more
* Spot gold may rise more to $1,546/oz - technicals
* Palladium touches record peak at $1,676.53/oz
* Dollar recovers after Tuesday's drop (Adds comments, updates prices)
Sept 25 (Reuters) - Gold held near a three-week peak on Wednesday as an impeachment inquiry into U.S. President Donald Trump raised political uncertainty in the world's largest economy, triggering a broader sell-off in equi... read more
* COMEX gold speculators raise net long positions
* Holdings at SPDR Gold Trust rise 1.2% on Friday
* Palladium hits record high of $1,664.34/oz
Sept 23 (Reuters) - Gold rose to its highest in more than a week on Monday, supported by Middle East tensions and uncertainty over U.S.-China trade talks, while palladium hit an all-time high.
Spot gold rose 0.2% to $1,519.56 per ounc... read more
Former Overstock CEO Patrick Byrne liquidated his position in his company and bought gold, silver and bitcoin to protect against a "recession" and the "deep state."
Byrne sold 4.8 million shares to net about $90 million.
Last month 57-year-old Byrne resigned from the company he founded after having an affair with a convicted Russian agent.
The turmoil has caused Overstock to drop. Shar... read more
