23 September 2021The latest FOMC meeting is done and dusted and initial reaction was to drive the gold price down by a few dollars, although the deliberations do not seem to have justified such a move. There has been a small recovery this morning but overall we think there should be more to come.
22 September 2021Latest gold export figures from Switzerland serve to confirm India's position as the leading recipient of Swiss gold exports this year, comfortably ahead of China/Hong Kong combined in second place. India may thus possibly regain its place as the world's largest gold consumer - and certainly as the world's largest gold importer
21 September 2021The Rigussian Central Bank i used to be consistently the largest purcahser of gold for its foreign exchange reserves, bu since April 2020 it has pretty much withdrawn from this market and August was ne exception with no gold purchased yet again.
16 September 2021After rising up through what might have seemed to be the key $1,800 level on Tuesday, Wednesday and Thursday saw it brought down again. We suspect it will remain range bound at least until next week's FOMC meeting, the outcome of which may give it some direction depending on the timing im plied on tapering and possible interest rate rises.
13 September 2021Try as it may, the gold price so far has been unable to establish any kind of significant breakthrough upwards thhrough $1,800. Any breaches thereof have been rapidly reversed. We suspect this situation cannot continue for too long. $2,000 gold may still be out of reach this year, but such a level is unlikely to stay out of reach. Perhaps 2022 will see the breakthrough.
11 September 2021Latest gold withderawal figures out of the Shanghai Gold Exchange suggest current gold demand in China may be running at levels well in excess of that for the past couple of years. Taken together with reported high July gold import levels from India, the indication is that the big Asian gold demand drivers are back in the driving seat.
10 September 2021A recent Golden Wedding party has caused me to reflect on gold as being built into our psyche as synonymous with money and wealsth in many cultures around the world and is hugely relevant to the yellow metal's ongoing, and ever continuing, place as a store of wealth as our fiat currency systems deteriorate in purchasing power, and in many cases collapse altogether.
08 September 2021According to a Reuters report quoting an anonymous government source, India's August gold imports rose hugely year on year, However this probably undesstates the true picture quite substantially due to the high incidence of smuggled gold.
07 September 2021As the U.S. came back on line after the Labor Day holiday. yhe dollar index rose and precious metals, equiuties and bitcoin all fell back - gold even breaching $1,800 on the downside.
02 September 2021The massive build-up of national debt expanded to try and allay the effects of the COVID-19 pandemic, has to be a portent of curreny value detrioration and loss of buying power, This will be seen in continuing inflationary trends and has to be positive for the gold price in all currencies going forward.
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