Category: Gold

Gold rebounded and rose above $2,000 once again on Thursday after talks between Ukraine and Russia failed to make any progress in halting what is considered the biggest European military crisis since World War II. Spot gold advanced 0.5% to $2,000.69 per ounce by 12:30 p.m. ET, maintaining its highest level since August 2020. Three-month US gold futures were 0.7% higher, trading at $2,003.10 per ounce on the Comex. Bullion had earlier extended its biggest decline in 14 months on hopes that talks between the countries’ foreign ministers could lead to a diplomatic solution.… Read More Here

London’s gold market suspended all Russian refineries from its accredited list, meaning their newly minted bars can no longer trade in one of the world’s most important bullion centers. The London Bullion Market Association suspended all six Russian gold and silver refineries from its Good Delivery List following sanctions imposed by the U.S., European Union and U.K. on the country, the LBMA said Monday. Existing bars produced by the refiners before their suspension will still be accepted.  The decision amounts to a de facto ban on new Russian gold bars… Read More Here

Gold extended its blistering rally on Tuesday towards an all-time high as investors made a beeline for the haven metal on mounting fears about the Ukraine crisis and rising inflation. Spot gold surged 3.5% to $2,068.07 an ounce by 12:10 p.m. ET, within touching distance of its peak of $2,072.50 set in August 2020. US gold futures also jumped 4.0% to $2,076.70 an ounce in New York. “The combination of roaring energy prices, grain prices, base metal prices is culminated in dramatic inflationary pressures that continue to be the major underlying support behind… Read More Here

Gold prices on Monday scaled the $2 000-level for the first time in a year-and-a-half, as investors rushed to the safety of the metal in the wake of an escalating Russia-Ukraine crisis, while supply disruption fears sent palladium to an all-time high. Spot gold was up 0.9% at $1 986.83 per ounce, as of 03:30 GMT, after scaling to its highest since August 19, 2020 at $2 000.69 earlier in the day. US gold futures rose 1.3% to $1 992.00. “If this was risk aversion driven by the US Federal Reserve as seen ahead of this war, that wasn’t… Read More Here

Gold headed for a weekly advance, lifted by demand for haven assets as Russia escalated its assault on Ukraine. Prices eased after spiking earlier on news that Russia attacked Europe’s largest nuclear power plant, raising concerns over the safety of the facility in Ukraine. Investors are weighing the economic fallout from Russia’s invasion of its neighbor, which is disrupting flows of energy, grains and metals. The resulting surge in oil prices has stoked concerns about global growth and inflation risks. Investors have sought out bullion as a store of value amid the… Read More Here

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