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20 July 2021The current week started with across-the-board falls in most assets, with the notable exception of gold and the U.S. dollar, which both seem to be sticking to their safe have attributes.
29 June 2021The Basel III accord came into play on Monday for the European banking sector (with the exception of the UK where the accord is not due to be implemented until the beginning of 2022). Some initial expectations that this would have a major impact on precious metals markets has not occurred, although it is early days yet.
27 June 2021The Basel III banking accord is due to come into force for EU banks on June 28th, although there have been considerable delays on this implementation in the past, and UK banks have until January next year until they are subject to it. Some analysts think this could have a significant effect on gold and silver prices and bring an end to any manipulation of precious metals prices in the futures markets. We prefer to remain neutral on the prospective outlook.
23 June 2021The May figures for Swiss gold exports have now been released and show that China and Hong Kong combined were by far the largest recipients of refined Swiss gold that month, but that combined total was lower than in the previous month. Indian gold imports, however, appear to have fallen drastically, which could be due to higher global gold prices that month and the massive impact of the COVID-19 virus pandemic in that highly populated nation.
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