Category: Gold

Bullion has now extended its first weekly gain in three, as lower bond rates boosted the appeal of the non-interest-bearing asset. Investors remained on edge about the impact of aggressive interest rate hikes after a slew of Federal Reserve officials last week re-emphasized their resolve to fight inflation. Traders will now look to US jobs data due on Friday for more clues on the future path of central bank monetary policy. That means bullion could be in for more volatility, with strong numbers potentially spurring further gains in bond yields… Read More Here

Gold started 2022 well, but the recent months were pretty awful. What will it be in the final quarter of the year? Ladies and gentlemen, please welcome the final quarter of the year! What were the first nine months of 2022 for the gold market? Well, in Q1 there was an impressive rally in gold, with the yellow metal staying above $2,000 for a while. However, the next few months brought a gradual decline in gold prices. After several weeks of being traded between $1,700 and $1,800 during the summer, in September,… Read More Here

Gold fell, caught up in a broad selloff as investors sought shelter in cash after the latest US economic data paved the way for more aggressive tightening from the Federal Reserve. Better-than-expected 2Q core PCE, a measure of inflation, and personal consumption numbers on Thursday suggested the US economy can handle further Fed tightening. Weekly jobless claims fell to the lowest since April, showing a persistently tight labor market. Bullion earlier fell as much as 1.1% on renewed strength in the US dollar as recession concerns returned after the Bank… Read More Here

Gold rose by nearly 2% on Wednesday as a slight retreat in the dollar rekindled some of its safe-haven appeal, although prospects of sharp rate hikes are still keeping the precious metal near a 2-1/2-year trough. Spot gold climbed 1.7% to $1,657.00 per ounce by 12:40 p.m. ET, touching its highest in a week and erasing some of the losses from an extended slide that dragged prices down to the lowest since April 2020. US gold futures also advanced 1.7% to trade at $1,664.60 in New York. Meanwhile, the US dollar retreated… Read More Here

In the year 2021, Ghana lost the title of Africa’s leading gold producer. While an intensive fight against illegal exploitation has been carried out for several months, the parallel development of official circuits should encourage an increase in national production. In Ghana, the army completed a three-day operation that arrested 164 illegal gold miners, ‘  galamseyers  ‘ as they are known in the country. The latter, many of whom come from Nigeria, Côte d’Ivoire, Mali, Niger and Burkina Faso, have invaded mining concessions or carry out gold panning in riverbeds. According to Ghanaian Times which reports… Read More Here

For nearly three years, Egypt has become more attractive to mining investments, thanks to a change in its regulations. The objective of the authorities is to increase the contribution of the Mines to the economy, in particular thanks to gold. Only one gold mine is currently operated in the country. In Egypt, the Canadian mining junior Aton Resources remains well funded to continue its exploration campaign at the Rodruin gold deposit. It obtained a bridge loan of 2 million Canadian dollars ($1.3 million) from Moonrider, with an annual interest rate of 12%. At… Read More Here

Gold fluctuated after Japan intervened in the foreign exchange market and central banks around the world followed the Federal Reserve with further monetary policy tightening. Japan’s Ministry of Finance moved to halt a slide of the yen against the dollar, the country’s top currency official Masato Kanda said Thursday. After the Fed’s third consecutive large-sized rate hike, central banks in Switzerland, Norway and Britain announced hikes of their own as officials rush to rein in rampant price increases. The greenback fell after Japan’s intervention before clawing back most of the… Read More Here

Gold prices fell to near the lowest level in more than two years on Tuesday, with investors still weighing the likely size of the US Federal Reserve’s looming interest rate hike that could set the tone for the market. Spot gold declined 0.6% to $1,665.78 per ounce by 11:20 a.m. ET, moving further away from the $1,700 level that it descended from last week. US gold futures were down 0.2% to $1,674.70 per ounce in New York. Gold’s decline comes on the back of hot inflation data that spurred some… Read More Here