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Category: Gold

Global gold demand declines 7% in Q3 — report 1 Gold International 

Global gold demand declines 7% in Q3 — report

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Gold demand (excluding OTC) fell 7% year-on-year to 831 tonnes globally during Q3 2021, according to the World Gold Council’s latest report. This drop was almost exclusively driven by ETFs – which swung from very large inflows in Q3 2020 to modest outflows this year – overshadowing strength in other sectors of demand during the quarter, the Council said. Jewellery, technology and bar and coin were significantly higher than in 2020, data showed. Modest central bank purchases were also a solid improvement on the small net sale from Q3 2020. Jewellery… Read More Here
Gold rises as dollar tumbles, slowing U.S. growth boosts appeal 2 Gold International 

Gold rises as dollar tumbles, slowing U.S. growth boosts appeal

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Gold prices rose on Thursday, as demand for the safe-haven asset was lifted by a softer dollar and data showing the U.S. economy grew at its slowest pace in more than a year. Spot gold rose 0.3% to $1,801.43 per ounce. U.S. gold futures settled up 0.2% at $1,802.6. “Economic growth slowed in the U.S. and that would support the gold market in the perspective that the Federal Reserve would be less likely to either taper asset purchases at a quicker pace or the outlook for higher interest rates would… Read More Here
Gold rises 1% on lower U.S. yields, inflation worries 3 Gold International 

Gold rises 1% on lower U.S. yields, inflation worries

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Gold prices rose about 1% on Monday, as a retreat in U.S. bond yields and persisting worries about inflation lifted the safe-haven asset ahead of major central bank meetings this week. Spot gold gained 0.8% to $1,805.90 per ounce. U.S. gold futures for December delivery settled up 0.6% at $1,806.80 per ounce. “The main reason for this rally is that yields backed off a little bit … but prices are still kind of range bound,” said Daniel Pavilonis, senior market strategist at RJO Futures. “We have a lot going on… Read More Here
The world’s top 10 gold mining companies 4 Gold International Mining Companies 

The world’s top 10 gold mining companies

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The world’s top 10 gold mining companies Unlike paper currency or many other types of assets, gold has maintained its value throughout the ages. First used by cultures in modern-day Eastern Europe in 4,000 BC to make decorative objects, the metal today represents a global business with operations on every continent, except Antarctica. The industry is dominated by a select group of majors. Together, the world’s top 10 gold miners produced 27.48 million ounces (Moz) in 2020, worth approximately $48 billion, according to data from  mining intelligence. North America leading At a country level, China… Read More Here
Gold price up after Fed official downplays chances of imminent rate hikes 5 Gold International 

Gold price up after Fed official downplays chances of imminent rate hikes

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Gold prices rose for a second day in a row Wednesdayfollowing commentary from a Federal Reserve official that played down the possibility of imminent interest rate hikes. Spot gold was up 0.7% to $1,783.70 an ounce by 11:50 a.m. EDT, near its weekly high. US gold futures also gained 0.7%, trading at $1,784.10 an ounce in New York. Bullion has fluctuated recently as traders attempt to gauge the pace at which pandemic-era stimulus will be reined in by central banks. Ongoing inflation, driven by the global energy crisis and supply chain constraints,… Read More Here
DRC: copper, cobalt, gold, zinc, ... on the rise this week on the international market 6 Cobalt Copper Gold Mining in DRC Tin 

DRC: copper, cobalt, gold, zinc, … on the rise this week on the international market

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All the main mining products of the Democratic Republic of Congo show an upward trend this week, going from October 18 to 23, 2021, on the international market, inform the projections of the Commission Nationale des Mercuriales of the Ministry of Foreign Trade.  Copper is trading this week at $ 9,325.20 per tonne versus $ 9,147 per tonne last week, up $ 178. Likewise, cobalt is up to $ 52,879 per tonne from $ 52,469 per tonne last week, a positive price spread from the Order of $ 410. Zinc… Read More Here
Chinese company Beyond Mining & a local cooperative exploiting gold in DRC at the centre of discontent by civil society 7 Gold Mining in DRC 

Chinese company Beyond Mining & a local cooperative exploiting gold in DRC at the centre of discontent by civil society

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The Chinese company Bayond Mining and the mining cooperative for integral development (COOMIDI), which exploit gold in the Mukera mining site in Fizi territory (South Kivu) are accused by civil society of violating all conventions signed with the local community. The two companies are accused, among other things, of not having compensated the peasants whose fields have been plundered and of not keeping the promise to rehabilitate the roads. It is since last August that the two companies officially started gold mining work in the Mukera mining site in the Mutambala… Read More Here
Barrick on track to achieve 2021 production targets 8 Gold Copper Mining Companies 

Barrick on track to achieve 2021 production targets

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Barrick Gold Corporation has reported preliminary Q3 sales of 1.07 Moz of gold and 101 million pounds of copper, as well as preliminary Q3 production of 1.09 Moz of gold and 100 million pounds of copper. It remains on track to achieve 2021 guidance, with both the Africa & Middle East and Latin America & Asia Pacific regions continuing to trend to the higher end of their regional gold guidance and North America at the lower end. As previously guided, Barrick’s Q4 gold production is expected to be the strongest… Read More Here
Gold price rallies as bond yields, dollar retreat 9 Gold International 

Gold price rallies as bond yields, dollar retreat

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Gold advanced nearly 2% on Wednesday on a retreat in the dollar and US Treasury yields, with investors’ focus on minutes from the Federal Reserve’s latest policy meeting for confirmation of its tapering strategy. Spot gold rose 1.9% to $1,794.73 per ounce by noon EDT, near its highest in a month. US gold futures were up 2.0% to $1,795.40 an ounce in New York. Other precious metals followed, with spot silver rising 2.7% to $23.17 per ounce, platinum gaining 1.1% to $1,023.50 and palladium adding 3.2% to $2,116.50. “Gold is… Read More Here
Gold steadies as traders weigh elevated inflation, growth risks 10 Gold International 

Gold steadies as traders weigh elevated inflation, growth risks

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Gold steadied as investors weighed concerns over inflation, fueled by a surge in energy and metal prices that threatens to derail the economic recovery. Focus will turn to the U.S. on Wednesday, where consumer price index data are expected to show price pressures remained elevated last month. And while minutes from the Federal Reserve’s September meeting are likely to signal an imminent scaling back of asset purchases, the latest miss on jobs data may complicate the timing of when tapering could start. Meanwhile, Goldman Sachs Group Inc. economists have cut forecasts for U.S. growth this… Read More Here

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