Category: Gold

Gold extended gains on Tuesday as investors continue to assess the risks to global growth that may stem from the sanctions against Russia in the wake of its invasion of Ukraine. Spot gold rose 1.0% to $1,927.76 per ounce by 11:30 a.m. ET, recovering from last week’s slight dip and reaching a new  15-Month high. US gold futures were up 1.5% to $1,930.40 per ounce in New York. Treasuries also climbed, and traders are abandoning bets on a half-point rate hike by the Federal Reserve this month amid concerns that an escalation of war… Read More Here

Asante Gold has received the required permits to commence mining at its open-pit Bibiani gold mine. Gold production is targeted for the September quarter this year. First ore has been delivered to the run of mine pad, a month ahead of schedule. Asante Gold has also begun the first cutback at the main pit. Mobilisation and site establishment is now two months ahead of schedule, with more than 75 items of heavy equipment and maintenance facilities at site, executive Dave Anthony said. Asante Gold plans for a full fleet of… Read More Here

The crisis over Ukraine pushed gold to a one-year peak last week before a sharp reversal, and the price volatility widened a gulf between bulls and bears of the precious metal that has been growing for months. In one camp, banks such as Goldman Sachs see gold setting new highs as it becomes the “currency of last resort” in a time of high inflation and global uncertainty. In the other, the likes of UBS, who say rising interest rates across the globe will diminish the luster of an asset that produces no income… Read More Here

Gold advanced, with investors remaining on edge as they assessed the impact of Russia’s invasion of Ukraine and Western sanctions, against the imminent monetary policy tightening in the US. Bullion fell a day earlier after surging to the highest in more than 17 months as traders digested weaker-than-expected sanctions on Russia following the country’s attack on its neighbor. Gold’s rally could have a lot further to go if a resulting commodity price spike leads to concerns of a material slowdown in growth in developed markets, according to Goldman Sachs Group. President Joe… Read More Here

Gold prices jumped more than 2% on Thursday to their highest in over a year and palladium extended a rally as Russian forces invaded Ukraine after President Vladimir Putin authorised what he called a special military operation. Spot gold climbed 1.9% to $1 943.28 per ounce by 0720 GMT, after hitting its best level since January 2021 at $1 948.77. U.S. gold futures GCv1 jumped 1.9% to $1 945.90. Russian forces fired missiles at several cities in Ukraine and landed troops on its coast on Thursday, according to officials and… Read More Here

Gold held steady as investors weighed the severity of Western sanctions on Russia against prospects for tighter US monetary policy. Bullion is having a strong start to 2022 on the back of rising geopolitical tensions in Europe, which have pushed prices to the highest in more than eight months despite expectations that the Federal Reserve will raise interest rates in March to curb inflation. The tensions in Europe are raising concerns over potential disruption of supplies of raw materials, bolstering prices for everything from energy to wheat and nickel. “The likelihood… Read More Here

Gold prices eased in volatile trade on Monday, as doubts over a potential summit between Russia President Vladimir Putin and his US counterpart Joe Biden to help resolve the crisis in Ukraine kept the safe haven metal near an 8-month high. Spot gold held steady at $1,896.86 per ounce by 12:40 p.m. ET, while US gold futures traded at about $1,898.50 per ounce in New York. Earlier, bullion fell as much as 0.6% after statements from Washington and the Elysee that both the US and Russia had agreed to the summit… Read More Here

South Africa-based gold miner AngloGold Ashanti reported a fall of 38.66% in its profit for 2021 on Tuesday, as lower gold production and inflationary pressure hit its earnings. The company’s headline earnings per share (HEPS) — the main profit measure in South Africa — was 146 U.S cents, down from 238 U.S cents a year ago. The miner, with operations across Africa, Australia and Latin America, said it will pay a dividend of 14 cents per share, taking the full year dividend to 20 cents per share. The Johannesburg Stock Exchange-listed… Read More Here

Gold advanced to an eight-month high above $1 900/oz as the prolonged standoff over Ukraine stoked demand for havens. The US ramped up warnings of a possible Russian attack, with President Joe Biden saying a “false-flag” event may be under way. Moscow said no invasion was planned, but given proposed US security assurances were unsatisfactory, Russia might have to resort to “military-technical measures.” Gold has made a strong start to the year, surging to the highest since June, as the possibility of a conflict in Europe buoyed prices. The commodity is set for a third weekly gain even as… Read More Here