IGold

Gold softened on last Friday after the latest set of US inflation data matched expectations, but still kept above the $2,500 level with a September interest rate cut by the Federal Reserve likely around the corner.

Source: mining.com

Gold price softens on US inflation data, still up 3% for the month - MINING.COM Despite the pullback, bullion is on track for a 3% gain this month.

Gold prices surged due to escalating tensions in the Middle East and the ongoing conflict between Ukraine and Russia. While increasing demand for safe-haven assets is likely to sustain gold prices, the bullish momentum in oil markets may also persist due to concerns over undersupply.

Source: euronews.com

Oil and gold prices surge as tensions rise in the Middle East Crude oil and gold prices surged due to escalating tensions in the Middle East and the ongoing conflict between Ukraine and Russia. While increasing demand for safe-haven assets is likely to sustain gold prices, the bullish momentum in oil markets may also persist due to concerns over undersupply.

Following a small drop in June, gold posted a strong monthly gain in July to finish 4% higher at US$2,426/oz. August’s seasonal strength in gold might be influenced by some specific events this month, including US election developments, the Jackson Hole Symposium and Nvidia’s earnings call, even as the current equity rout is playing out in favour of gold.

Source:gold.org

Gold Market Commentary: All aboard the rate cut train 8 August, 2024 Downloadpdf Gold Market Commentary July 2024 Flying high mid-JulyFollowing a small drop in June, gold posted a strong monthly gain in July to finish 4% higher at US$2,426/oz. Another all-time high was reached mid-month before a modest decline into month end. A strong Japanese yen rall...

Regional investment trends continued to diverge. Demand for bars, coins and ETFs, was robust in the East, compared with a marked decline in the West. Western ETF investment flows have, however, started to return so far in Q3.

Source:gold.org

Gold Demand Trends Q2 2024 30 July, 2024 Downloads: Download pdf Gold Demand Trends Q2 2024 Download pdf GDT Q2 2024 - Executive Summary Download xlsx GDT Tables Q2 2024 EN XLSX Sections:Executive summary Executive summaryOutlookJewelleryInvestmentCentral BanksTechnologySupplyChart GalleryNotes and DefinitionsGDT Explained Re...

Gold’s record surge highlights strategic moves by central banks in BRICS+ and neutral countries amid global geopolitical and economic uncertainty.

Source: gisreportsonline.com

What is really fueling the new gold rush? – GIS Reports Gold’s record surge highlights strategic moves by central banks in BRICS+ and neutral countries amid global geopolitical and economic uncertainty.

The key drivers behind gold prices in 2024 have shifted, decoupling from the outlook for Fed interest rate cuts and U.S. real yields. Gold prices continue to hit all-time highs, driven by a multitude of factors including heightened geopolitical risks, expectations the Fed will begin lowering rates and central bank buying.

Source: jpmorgan.com

A new high? | Gold price predictions from J.P. Morgan Research Spot gold prices have hit all-time highs, topping $2,400 on rising geopolitical risks and interest rate cut expectations. What’s the latest forecast for gold prices?

Gold price sticks to key support level, set for third consecutive weekly gain on Fed rate cut expectations. Data from the US Department of Labor showed that factory prices rose above estimates, though they failed to underpin the Greenback, a tailwind for the precious metal.

Source: fxstreet.com

Gold price secures third week of gains, holds above $2,400 Gold’s price clung above $2,400 on Friday after hitting a daily low of $2,391.

Gold has had a stellar year so far. Prices are holding near that level even though macroeconomic and geopolitical uncertainties—including Israel’s offensive in Gaza, Iran’s shadow war with Israel and rising US-China tensions—burnish gold’s appeal as a safe-haven asset. Central bank purchases and expected interest-rate cuts by the Federal Reserve (Fed, the US central bank) have also supported the rise in the metal’s value.

Source: eiu.com

www.eiu.com | 502: Bad gateway

Gold still has advantages such as being a credible inflation hedge, being rare and finite and having a relatively low correlation with other assets, according to gold investor and analyst Simon Popple.

Source: euronews.com

The enduring popularity of gold: why does it never lose its shine? Gold still has advantages such as being a credible inflation hedge, being rare and finite and having a relatively low correlation with other assets, according to gold investor and analyst Simon Popple.

An increasingly complex geopolitical and financial environment is making gold reserves management more relevant than ever. In 2023, central banks added 1,037 tonnes of gold – the second highest annual purchase in history – following a record high of 1,082 tonnes in 2022.

Source: gold.org

2024 Central Bank Gold Reserves Survey 18 June, 2024 Central banks An increasingly complex geopolitical and financial environment is making gold reserves management more relevant than ever. In 2023, central banks added 1,037 tonnes of gold – the second highest annual purchase in history – following a record high of 1,082 tonnes in 20...

Gold prices rose over 1% on Friday and were on track for their first weekly gain in four, as signs of slowing inflation in the U.S. raised hopes of a rate cut later this year and a stock selloff across Europe also lent support.

Source: reuters.com

Gold set for first weekly gain in four on US rate-cut hopes Gold prices rose over 1% on Friday and were on track for their first weekly gain in four, as signs of slowing inflation in the U.S. raised hopes of a rate cut later this year and a stock selloff across Europe also lent support.

According to Bloomberg, China's central bank increased its Spot Gold reserves for the 18th consecutive month in April, though its pace of buying slowed as prices hit record highs.

Source:.ig.com

Spot gold price drops $50 per ounce as China’s central bank halts gold reserve building China’s PBOC 18 straight months of gold purchases seem to have ended, leading to a sharp sell-off in the precious metal.

Gold prices eased as investors digested U.S. inflation report that was largely in line with estimates, although expectations that the Federal Reserve will cut interest rates this year kept bullion on track for its fourth straight monthly gain.

Source: hk.finance.yahoo.com

Gold posts fourth monthly rise on Fed rate cut hopes Gold prices eased on Friday as investors digested U.S. inflation report that was largely in line with estimates, although expectations that the Federal Reserve will cut interest rates this year kept bullion on track for its fourth straight monthly gain. "Gold is down despite the friendly PCE report....

Gold price -$100 from record as betting that the US Federal Reserve will keep interest rates 'higher for longer' trumped a wave of uncertain and tense politics, capped by China encircling the 'breakaway' island of Taiwan with 2 days of military drills.

Source: bullionvault.com

Gold Price -$100 from Record as Politics Trumped by Fed Rate Forecasts | Gold News Gold fell further Thursday, dropping $100 below Monday's new all-time high as betting that the US Fed will keep rates higher for longer trumped new political tensions led by China encircling Taiwan with military drills

The gold price is not overbought as global stock markets rose despite worsening geopolitical tensions between the West and 'the rest' driving further central-bank gold buying at the precious metal's recent all-time high prices.

Source: bullionvault.com

Gold Price 'Not Overbought' as Geopolitics Worsen, Fed Rate-Cut Hopes Rally | Gold News The gold price slipped $10 from yesterday's 1-week highs on Tuesday as global stock markets rose despite worsening geopolitical tensions driving further central-bank bullion buying

Spot gold prices have recently hit record highs — above $2,400 an ounce — thanks to global demand on the back of economic and geopolitical uncertainties. Expectations of central bank interest rate cuts also boost gold's appeal, since the yields on fixed-income assets like bonds typically fall as rates go down.

Source: businessinsider.com

People in China are so spooked about the economy that even the weak yuan isn't stopping them from buying more gold China's central bank has been on a buying spree for 17 straight months as it diversifies its holdings away from the US dollar.

Gold prices have soared past 2400.00 USD, reaching a new record high. This marks the fifth consecutive week of gains for the precious metal, fuelled by increasing market demand for "safe-haven" assets amid escalating geopolitical tensions and uncertain global economic conditions.

Source: fxstreet.com

Gold hits record high amid growing geopolitical tensions Gold prices have soared past 2400.00 USD, reaching a new record high on Friday.

Gold prices have touched a new record high, as tensions between Iran and Israel intensify, leading to more safe haven asset purchasing. Higher inflation and the cost of living in several parts of the world have also contributed to eroding the value of money, thus leading people to invest in inflation hedges, of which gold is a particular favourite.

Source: euronews.com

Gold continues price surge as investors monitor Middle East tensions Gold prices have touched a new record high, as tensions between Iran and Israel intensify, leading to more safe haven asset purchasing.

China’s central bank purchased gold for its reserves for a 17th straight month in March, extending a buying spree that has helped the precious metal surge to a record. Bullion held by the People’s Bank of China rose 0.2% to 72.74 million troy ounces last month, according to official data released.

Source: bloomberg.com

China PBOC Buys Gold for 17th Month as Prices Hit Record China’s central bank purchased gold for its reserves for a 17th straight month in March, extending a buying spree that has helped the precious metal surge to a record.

Gold continued its historic rally by setting another record high, as the latest US inflation data further boosted expectations of a Federal Reserve interest rate cut this coming June.

Source: mining.com

Gold price hits another all-time high as Fed-fuelled rally continues - MINING.COM A host of positive drivers have pushed up bullion by around 14% since the middle of February.

Last week's rally saw gold reach a fresh record high before a sharp sell-off left the precious metal relatively unchanged over the week. The Federal Reserve hinted that it might cut the Fed Fund rate by 75 basis points this year, consistent with previous communications. Fed Chair Powell's optimistic tone initially drove gold to a new all-time high before selling pressure emerged and drove prices down.

Source: www.ig.com

Market update: gold price steadies after sharp sell-off, new all time high remains possible Dive into the volatile world of gold trading as it reaches new heights, reacts to potential Fed rate cuts, and forms bullish patterns, setting the stage for future market movements.

Central banks added 39 tonnes (t) to global gold reserves in January. Turkey and China again led the charge among buyers, while significant sales were virtually non-existent. The themes underpinning central bank demand remain in play, and have in some cases intensified, likely keeping central bank demand well supported in 2024.

Source: gold.org

Central banks accumulate more gold in January – starting 2024 as they mean to go on? In January, central banks reported that they increased global official gold reserves by 39t. This was more than double the (revised) December net purchases of 17t, and the eighth consecutive month of net purchases. Post by Krishan Gopaul

Gold prices hit a three-month peak, driven by increased bets for a June interest rate cut by the U.S. Federal Reserve. "If inflation numbers remain tame, gold's going to continue to trend higher," said Jim Wyckoff, senior analyst at Kitco Metals.

Source: reuters.com

Gold advances to three-month high on rising rate cut bets Gold prices hit a three-month peak on Monday, driven by increased bets for a June interest rate cut by the U.S. Federal Reserve.

Gold prices are poised to rise as central banks purchase the precious metal and as strong retail demand in emerging markets bolsters prices, according to Goldman Sachs Research. The yellow metal is forecast to climb about 6% in the next 12 months to $2,175 a troy ounce.

Source: goldmansachs.com

Gold prices are forecast to rise 6% in the next 12 months Gold prices are poised to rise as central banks purchase the precious metal and as strong retail demand in emerging markets bolsters prices, according to Goldman Sachs Research. The yellow metal is forecast to climb about 6% in the next 12 months to $2,175 a troy ounce, Nicholas Snowdon, head of met...

Gold was on course for a second straight weekly fall after hot inflation data cooled prospects of early rate cuts by the Federal Reserve. Data showed that U.S. producer prices increased more than expected in January. Another report on Tuesday showed that U.S. consumer prices rose more than expected last month.

Source: reuters.com

Gold set for second weekly loss as rate cut expectations dampen Gold ticked up on Friday but was on course for a second straight weekly fall after hot inflation data cooled prospects of early rate cuts by the Federal Reserve.

We expect gold prices to hit fresh highs this year. We think they'll average $2,150/oz in the fourth quarter and $2,081/oz in 2024 on the assumption that i) the Fed starts cutting rates in the second quarter, ii) the dollar weakens, and iii) safe haven demand continues amid global economic uncertainty. Downside risks revolve around US monetary policy and dollar strength. The higher-for-longer narrative could see a stronger dollar for longer and weaker gold prices.

Source: think.ing.com

Gold Monthly: Assessing Fed policy and geopolitical risks Geopolitical tensions support gold prices

Gold demand hit record highs in 2023 on the back of persistent geopolitical tensions and continued weakness in the Chinese economy, the World Gold Council said. Total gold demand stood at 4,899 tons last year compared to 4,741 tons in 2022. This is inclusive of over the counter transactions and stock flows. Gold purchases from central banks led to last year’s surge, with purchases exceeding 1,000 tons for two consecutive years.

Source: cnbc.com

Gold demand hit record highs in 2023 amid geopolitical risks, China weakness Gold demand hit record highs in 2023 on the back of persistent geopolitical tensions and continued weakness in China's economy, the World Gold Council said.

Gold prices touched an all-time high of $2,135.39/oz in December 2023, driven largely by a weak U.S. dollar and expectations the Fed will begin lowering rates. Fed interest rate cuts and falling U.S. real yields will once again become the key drivers behind gold prices in 2024. Gold prices are expected to dip in the near term before climbing to new highs later in the year, with a forecasted peak of $2,300/oz in 2025.

Source: jpmorgan.com

Will gold prices hit another all-time high? | J.P. Morgan Research Spot gold climbed to a record high of over $2,100 at the end of 2023 on expectations of interest rate cuts. What does J.P. Morgan Research forecast for gold prices in 2024?

Gold prices rallies as an escalation in the Middle East conflict fueled safe-haven buying, while softer U.S. producer price inflation boosted bets that the Federal Reserve might cut interest rates sooner.

Source:

Reuters | Breaking International News & Views Find latest news from every corner of the globe at Reuters.com, your online source for breaking international news coverage.

Domestic gold prices reached new highs in China last year, with the retail market witnessing a gold rush, particularly in lower-tier cities and less affluent counties. Gold is seen to offer stronger wealth preservation characteristics during an economic downturn, with demand set to rise ahead of the Lunar New Year.

Source: scmp.com

Is gold now forever? China’s youth shun diamonds, seeking safe-haven investment Gold prices reached new highs in China last year, with the retail market witnessing a gold rush, particularly in lower-tier cities and less affluent counties, as it is seen to offer more security during an economic downturn.