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.
20 November 2022Gold and silver both slipped back from earlier strong gains towards the end of the past week, despite a fall in the dollar index. There was a distinctly bearish forecast for precious metals going forwards from Metals Focus for 2023, but the consultancy still reckoned gold at least would continue to play a role in investment portfolios as other asset classes would perform even worse.
14 November 2022Friday's trade saw gold and silver prices advance strongly to highs not seen for a few months, although they were coming down again in Europe at the start of the current week. However we think the signs remain positive for them but we are less confident about any progress in equity and bitcoin prices as inflation remains high and the world seems to be heading into recession,
10 November 2022The U.S. Midterm elections which saw President Biden and the Democrats perform far less badly than anticipated, closely followed by the latest CPI figures which saw inflation come in lower than expected, saw gold, silver, pgms. equities and bitcoin all surge sharply.
08 November 2022This week sees the U.S. midterm elections and the release of updated U.S. CPI data, both of which could have a significant impact on precious metals and equity prices. The Democrats are widely expected to lose political ground to the Republicans which could be positive for gold and equities, while inflation data could trend either way.
07 November 2022The Shanghai Gold Exchange's latest gold withdrawals data for October has come in at under 100 tonnes, comfortably below last year's level, but above that for Covid-hit 2020. October figures do tend to be anomalous as the SGE is closed for the Golden Week holiday, but the low figure does suggest that overall Chinese gold demand for the full year is likely to fall below that for 2021
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