Gold SWOT: Could this be the start of a new bull market in bullion?

  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 66 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 78%

المملكة العربية السعودية أخبار أخبار

المملكة العربية السعودية أحدث الأخبار,المملكة العربية السعودية عناوين

Commentaries from industry expert Frank Holmes focusing on gold price movements, what's moving markets and what to expect in the metals sector.

The best performing precious metal for the week was gold, up 5.22%. Gold in China jumped to trade at the second-highest premium on record against the international benchmark, as mainland markets reopened following the Golden Week holiday. The Shanghai spot price was more than $112 an ounce higher

Gold surged above $1,900 on Friday as conflict in the Middle East appeared to be headed for escalation this weekend. The precious metal steadied after jumping 1.6% on Monday, the most since May, as haven demand rose on the back of Hamas' shock attack on Israel over the weekend. However, the developments on Friday sent gold climbing over 3% on the day.The worst performing precious metal for the week was palladium, down 1.30%.

The CPI print on Thursday morning took what was looking to be a good rally in the price of gold to start the day to a deflating loss. The data supports the thesis for another rate hike this year but it's not certain. However, investors versus the pundits calling for a cut in rates may set the path forward with higher long rates continuing to increase. As Bloomberg noted, price agnostic buyers, U.S.

According to Bank of America, as to gold, Heraeus outlines that "Despite net negative demand in April and May this year, strong buying activity by central banking institutions has returned." There were no notable sales in August, while purchases totaled 77 tons. The Chinese central bank added 29 tons to its gold reserves in August, continuing a streak of buying that began in November last year. Central bank purchases have supported gold.

 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.
لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 13. in SA

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين