“Gold has witnessed significant secure buying from low and negative bond yields from interested investors, and fearing a possible deterioration in stocks,” said George Milling-Stanley, chief gold strategist at State Street Global Advisors. Funds traded on the gold exchange “also feel the benefit of purchasing a strategic type of asset allocation by institutions and individuals.”
“Constant uncertainty, both macroeconomic and geopolitical, provided support for both types of purchases,” he said.
On Friday, GCG20 futures, -0.04%, stabilized at USD 1 481.20 per ounce, and prices based on the most active contract increased by 15% compared to the present. This would be the largest annual increase since 2010, when prices rose by almost 30%, according to FactSet data.
“Gold took an abrupt but not wholly unexpected turn to the downside in the wake of this morning’s job report which showed strong gains in U.S. payrolls for November. The metal is down $13 at $1463. Silver is down 20¢ at $16.77. Gold analysts had warned earlier in the week that a strong payrolls number could lead to price weakness. At the same time, some are likely to see the latest surge in stock values — the DJIA is up 180 as this report is posted — as an opportunity to trim positions. Likewise, some will see gold’s weakness as an opportunity to buy. It will be interesting to see if the early reaction sticks as the day wears on and we move into next week. Today’s strength can quickly turn to tomorrow’s weakness and vice versa.”
According to Goldman Sachs Group Inc. investors should diversify their long-term bonds with gold, citing “fear-driven demand” for precious metal, Bloomberg reports.
“Gold cannot fully replace sovereign bonds in the portfolio, but the reallocation of part of normal bond exposure is as strong as ever,” said Goldman analysts, including Sabine Schels. “We are still seeing increases in gold when concerns about the late cycle and increased political uncertainty are likely to support bullion investment demand as defensive assets.”
Gold fell by more than 6% from its peak to USD 1,459.81 by 15:26 on Friday in New York.
While Goldman said the bullion price correction still has a long way to go, the bank is still sticking to forecast prices that will rise to $ 1,600 next year.
A woman was detained for trying to smuggle gold in her shoes across the Russian border with China. With the help of a metal detector, Russian customs officers discovered that he had eight gold disks stuck to the soles of the feet. In total, 1.9 kg (4.1 pounds) of gold is worth over five million rubles (GBP 61,096, USD 78,850). The Russian citizen seemed “nervous and suspicious,” said Marina Bojko, a customs spokeswoman at the border post near Chita in eastern Siberia. “She unnaturally set one foot in front of the other”, which aroused the suspicions of officers. “According to…
After the closing day of US equities’ half-day of trading and the month of trading stocks in November — spot gold prices reach net profit during the week and close to USD 10 more on the last day.
Donald Trump has signed the Hong Kong Sanctions Act. It is highly likely that such a move would harm trade talks with China. The gold cash market was counting on large American investors who were waiting for positive information in connection with these talks. No wonder we’ve seen falling stocks and a fall in Greenback’s many weeks of highs. …
The amount of gold imported to China in the last six months is only 347 tons. It is not even a half of imported gold from the second half of 2018, when China imported about 800 tons of this metal to the country. Such a huge decline in importing ore to the country, which has been its largest global consumer since 2013, raises concern. The slowdown may be caused by the slowing down of the Chinese economy and inflation, in addition, the salaries of the Chinese have stopped growing rapidly, which cannot be said at the moment about prices of e.g. food products. Investments were also suspended by the authorities, which decided to introduce restrictions on the import of ore.
The complicated operation of transporting gold has been completed. As Adam Glapiński, the President of the NBP announced today, “The National Bank of Poland has completed the procedure of bringing 100 tonnes from gold reserves to Poland. The gold transfer operation was very complicated and required the work of several hundred highly qualified NBP employees. The whole operation was, among others made by air, through the airports in Poznan and Warsaw. The entire process required detailed preparation and complete discretion. “
The lion’s share of our reserves returned to us from England, which will now be stored in the central…
Investing in gold has been with us for hundreds of years, and seeing it as a safe haven is a reasonable behavior of investors. When the markets come to crisis, gold strengthens because investors run away from fiat money by investing in this metal. By the end of 2017, approximately 190,000 tonnes of gold were extracted worldwide, with current technological development and a large number of modernizations, mining will increase in the coming years. With this tendency, the depletion of gold deposits will occur in about 15–20 years. Gold currently stands at USD 1,464.65 per ounce. Although it is $ 100 less than the maxima achieved in September this year, gold is still a profitable ore for investors compared to its previous year’s rate of USD 1,220.08.
The last weeks of November are the time when we slowly begin to think about Christmas presents for loved ones. A wide market, filled with various assortments, does not make our choice much easier. Why should you bet on gold products? How to invest in them? Gold is an ore that, despite temporary drops, is constantly gaining value. For centuries, it has been synonymous with wealth and luxury. Buying jewelry is a real problem, after all, the quality and style of workmanship differ from one manufacturer to another, so there are thousands of types of gold jewelry. A secondary issue…
We are currently observing a downward correction on the gold market, which put the price of gold at a three-month minimum. On Friday they were at USD 1,460.25 after a 0.6% reduction. This is almost $ 100 difference on each ounce comparing current rates with those recorded on September 4, when gold reached its peak this year. In addition to gold, other ores are currently cheaper. Platinum now costs 2.5% less, and palladium lowered its rates by 3.2%. The investors’ faith in the end of the economic war on the US-China front seems to weaken the prices of precious metals…
The company Yellow Gold Company Ltd. deals with exploration, acquisition of concessions as well as exploration of metal deposits and precious stones.