Gold looking for new record highs Gold held above key supports to suggest the correction may already be over. Analysts at Credit Suisse remain long-term bullish. Key quotes “We remain major long term Gold bulls, with the market encouragingly back above its 200-day average having held above key support at $1452/1446.” “It’s important to note that…
Gold in the Time of Corona Virus Over the past few weeks, we have seen Covid-19 evolve from a predominantly Chinese outbreak to a global crisis. As of March 16, 2020, there have been nearly 165,000 confirmed cases and over 6,500 deaths across 146 countries, and these numbers continue to increase on a daily basis.…
SA mining faces 15% production knock in 2020 as it prepares for national lockdown SOUTH Africa’s mining sector could suffer direct production losses of 8% of annual output as a result of the 21-day lockdown due to start at midnight on Thursday. This is according to a report by Nedbank Securities precious metals analyst, Arnold van…
The world’s rich are struggling to get hold of gold Ludwig Karl is stuck at home, worried about his elderly relatives. All the while his business is booming. He’s a board member of Swiss Gold Safe, an operator of high-security vaults in the Alps that’s storing growing sums of precious metals for wealthy foreigners as…
Hong Kong & China Q1 Market Update In Hong Kong and China, the Covid-19 situation looks to be improving steadily, with almost no new cases as of March 12. The virus and control measures have, however, had a severe impact on the regional economies and especially the local gold market. China is the largest physical…
Gold Heads for Biggest Weekly Advance Since 2008 After Squeeze Gold headed for the biggest weekly advance since 2008, rallying along with risk assets including equities, as investors weighed up the impact of massive monetary and fiscal stimulus for virus-hit economies and disruptions in the physical bullion market that have roiled trading. The store of…
Potential side-effects of monetary and fiscal medicine Wishful thinking. That’s how Angel Gurría, secretary general of the Organisation for Economic Co-operation and Development (OECD), responded to any prospect of a swift economic recovery from the coronavirus pandemic. But the scale of the impact on the global economy – as well as our daily lives – has…
People are panic buying gold coins and bars. Should you too? Investors are snapping up gold bars and coins, seeking the security offered by the precious metal as the coronavirus pandemic trashes economies and forces central banks to print trillions of dollars in new money. But with major gold refineries across Europe shut because of…
Gold on trajectory toward $2,000 Despite some continued volatility, the yellow metal has rebounded some eleven percent from its recent lows to over $1,620/oz. Gold price could move toward $1,800/oz in the not too distant future, strategists at TD Securities report. Key quotes “Normalizing liquidity conditions, negative real rates, low cost of carry and concerns surrounding fiat currency debasement, likely…
South African Gold Shipments to London Have Been Cut Off A South African refinery has stopped shipping gold to London because of a lack of commercial flights, adding to the disruption that’s upending the physical bullion market. South Africa’s Rand Refinery Ltd., the continent’s only gold refiner, said it’s exploring back-up plans and alternative measures…
