29 August 2022
The gold price may have looked weak in recent weeks, but in comparison with equities and bitcoin it has been doing extremely well. We compare gold's performance year to date with these other two asset classes which both look vulnerable to further sharp falls as we seem to be heading for a global recession.
23 August 2022
July's Swiss gold export figures were much higher than for the previous three months and show that China returned, after a gap of several months, to being the top recipient that month, replacing India which dropped to fourth.
22 August 2022
Another month has passed without Russia making any announcement on any changes to its gold reserve position. The conclusion is that this information is being suppressed because of the ongoing war in Ukraine and that Russia may well be using its gold to help finance this.
08 August 2022
Latest SGE gold withdrawal figures put July comfortably ahead of those for the same month in 2021 indicating that Chinese gold demand is picking up nicely despite problems associated with lockdowns resulting from the nation's zero-Covid policies
03 August 2022
The gold price surged back to the $1,800 level, which it achieved very briefly in intra-day trade before falling back again in reaction to Nancy Pelosi's Taiwan visit and fears of China's reaction. This was less severe than feared and gold and silver fell back quite substantially to earlier levels based on the Fed's perceived likely moves at September's FOMC meeting in the light of latest inflation data.
20 July 2022
Equities and bitcoin have been making gains on the latest market data while precious metals have mostly remained in the doldrums. The silly season seems to be with us and we may have to wait until after the U.S. Labor Day for markets to find their true direction.
08 July 2022
Latest gold withdrawal figures from the Shanghai Gold Exchange for June show that the month's total has exceeded that of a year earlier suggesting China's gold demand is beginning to pick up, but cumulatively still remains well behind that of H1 2021.
04 July 2022
The latest announcement of Swiss gold import and export figures has highlighted some significant changes in global gold movements in May. India moved into the top spot as the leading recipient of Swiss re-refined gold that month and China dropped back, while the figures also showed the anomalous receipt of 3.2 tonnes of apparently Russian sourced bullion.
29 June 2022
Yesterday was a down day for investors in almost all asset classes as markets turned down on looming across-the-board fears of a global recession took hold. The Russia/Ukraine War has been a major game changer and many of the cards seem to be in Russia's hands economically speaking.
28 June 2022
The announcement that the G7 nations will be banning imports of Russian-produced gold may have little effect given that many of the world's largest gold consumers are not members of this body - particularly the world's two largest gold consumers, China and India
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