ABU DHABI, 24th January, 2023 (WAM) -- President His Highness Sheikh Mohamed bin Zayed Al Nahyan received, at Qasr Al Bahr Majlis, Felix Tshisekedi, President of the Democratic Republic of the Congo, who is on a working visit to the UAE. During the meeting, the two sides...
Financial stresses have translated into gold trading at near-record levels Central banks, including China, have added to their gold reserves as they diversify away from dollar assets Recession risks and banking turmoil have contributed to recent price rises.
Central banks are turning away from the US dollar and shifting to gold, Ruchir Sharma wrote. Central banks account for a record 33% of monthly global demand for gold, he said in the FT. "Thus the oldest and most traditional of assets, gold, is now a...
The upcoming halving is currently about 50% priced in based on previous cycles, said Jamie Douglas Coutts, a Bloomberg Intelligence analyst. Coutts predicts that Bitcoin can scale $50,000 by April 2024. “Bitcoin cycles bottom around 12-18 months prior to the halving and this cycle structure...
US deficit blowout will have ASX gold stocks hoping history repeats. The last time this happened, it sparked a decade long bull market for the yellow metal. US deficit blowout will have ASX gold stocks hoping history repeats. The last time this happened it sparked...
DRC has huge copper and cobalt reserves, with a population of about 93 million. In 2021 the Group injected $ 100 million of fresh capital into Equity BCDC.
Three related forces are propelling gold toward a record price: economic concerns, lower bond yields, and a weaker U.S. dollar. A boost in buying this year by central banks has added fuel to the rally.
Gold is on the cusp of a major breakout from its super-bullish cup and handle pattern. The measured upside target is $3000/oz, and the log target is roughly $4000/oz. These targets may sound extreme, but breakouts from multi-decade bases are rare but very bullish. Furthermore,...
Bitcoin is up 80% since the start of the year. History shows the cryptocurrency tends to perform well in the run-up to its so-called “halving.” The bitcoin halving, which occurs every four years, reduces rewards for successfully mining new bitcoin by 50%. The aim is...
Central bank gold buying momentum showed no signs of stalling in February. Reported global gold reserves rose by 52t during the month – the eleventh consecutive month of net purchases – following January's 74t. 1 This excludes updated data for Russia (more on that below ), but still maintains...
Holdings at People’s Bank rise to more than 2,000 tons Precious metal hit its highest in more than a year this week
Rejected offer triggers expectations of a new waTurkey bought 23 tonnes of gold in January, making it the biggest buyer of the precious metal among central banks globally over the period. The country now holds 565 tonnes of gold, the highest level on record, according...
Gold is famous for its rarity and that likely won’t change any time soon. In fact, the global demand for gold hit a decade peak in 2022 while its supply continues its nearly 7-year plateau. So gold is in high demand, but will it...
Gold will hit as high as $2,400 per ounce over the next five years, as countries like Russia seek to divest of U.S. dollars, after the dollar was weaponized following Russia’s conflict in Ukraine. That’s according to Pierre Lassonde, Chairman Emeritus of Franco-Nevada and...
How to own gold without having to lug it around and stash it somewhere safe – like a safe. That’s something the World Gold Council is working on, says council chairman Randy Smallwood, whose company pioneered precious metals streaming, which is also a way of...
Mining indaba, Africa’s largest mining conference, is an anthropologist’s dream. There are the corporate chief executives: alpha males keen to cut big deals for big rocks. There are the engineers staffing stands in bright corporate attire, resembling darts teams on tour, and the colourful...
Fort Knox has earned a reputation as the world’s most secure repository of gold. Perhaps it one day will have a rival in Wyoming. Scottsdale Mint CEO Josh Phair told state lawmakers Thursday during testimony on a bill that would allow Wyoming to accept certain tax...
The United States welcomes the February 17 Communiqué of the 1140th meeting of the African Union Peace and Security Council (PSC) on the situation in eastern Democratic Republic of the Congo (DRC). We join the PSC in expressing concern over the deteriorating humanitarian situation,...
Gold bars from the vault of a bank are seen in this illustration picture taken in Zurich November 20, 2014. The "Save our Swiss gold" proposal, spearheaded by the right-wing Swiss People's Party (SVP), aims to ban the central bank from offloading its reserves...
ABU DHABI, 24th January, 2023 (WAM) -- President His Highness Sheikh Mohamed bin Zayed Al Nahyan received, at Qasr Al Bahr Majlis, Felix Tshisekedi, President of the Democratic Republic of the Congo, who is on a working visit to the UAE. During the meeting, the two sides...
Central banks have been buying gold in quantities not seen since 1967. After decades of efforts to demonetize gold, why would the guardians of the monetary system suddenly invest large sums into a metal that demands crippling mining costs and offers little return? The...
Apparently so. The CMI Table of Comparative Critical Minerals’ Lists below tells the story. But, first, some background.
If you possess physical gold you don’t face that risk. You also have the potential for appreciation. We’re at the beginning of trends that are going to increase the demand for gold, and inflation and geopolitical tensions will determine the rate at which gold...
The U.S. dollar will be dethroned as the sole global reserve currency, leaving a bifurcated monetary system with the BRICS (Brazil, Russia, India, China, and South Africa) and their allies using a reserve currency backed by gold, alongside Western countries retaining the U.S. dollar.
Tin, tantalum, tungsten and gold. All of these minerals are found in our electronics and all are considered conflict minerals, due to their potential origin in the Democratic Republic of Congo. While the African country contains an estimated $24 trillion in untapped mineral resources,...
The United States needs a secure supply of critical minerals to protect its national security. Minerals like cobalt, gallium and rare earths are vital elements in superalloys, semiconductors and permanent magnets. These components, in turn, are essential for advanced technologies such as jet engines, quantum...
Gold will increase in value while the U.S. dollar drops, said Paulson & Co. founder John A. Paulson. And that is the hedge fund manager's outlook for this year, the next three years, and the next five years.
The gold market continues to struggle below $1,900 an ounce; however, long-term, one analyst said that there is still plenty of value in the precious metals space, and it's only a matter of time before gold and silver go higher as investors underprice the...
Euro players unhappy about American green tech subsidies... and everybody's worried about China
While Croatia bought gold for the first time in more than 20 years, it certainly wasn’t alone. Last month the World Gold Council noted that central banks bought 417 tonnes of gold in the fourth quarter of last year.
Given their pivotal role in the green economy future of mining, there has been an ever growing demand for battery metals. With the DRC endowed with these minerals, the country needs a platform for dialogue on how to leverage the demand.
Gold prices could break an all-time high in 2023 and the outlook for “every single metal on the periodic table” is incredibly bullish, which could be very good for the junior exploration sector.
Federal Reserve Board Chair Jerome Powell is predicted to raise rates by 25 basis points, setting the federal funds rate between 4.5% to 4.75%, while marking the highest rate level since 2007. (AP Photo/Jose Luis Magana / Associated Press) The Federal Reserve on Wednesday raised interest rates...
2022 was a rough year for investors: Between inflation, falling stock prices, and the crypto crash, it was hard to find a safe haven.
Soloway, who teaches trading courses at VerifiedInvestingEducation.com and has had a successful career as a trader, said that getting a proper education in investing is important for beginners.
The gold market has a 5,000-year history as a store of value; however, in the last 30 years, the precious metal has established itself as an essential global asset in a world filled with uncertainty, according to the latest report from the World Gold...
In Central Asia, Uzbekistan added 34 tonnes to its gold reserves in 2022, followed by the Kyrgyz Republic with six tonnes and Tajikistan with four tonnes.
Companies like Tesla are under increasing scrutiny to take responsibility for environmental and human rights violations along their supply chains.
The government’s decision to take control of the gold mining activities and to establish a legal framework for the exploitation of gold mines in the region is an important step in ensuring that the country’s resources are exploited in a sustainable and responsible manner.
Most central banks’ largest percentage of reserves are US dollars, which usually come in the form of US Treasury bonds. It would make sense for some of the central banks, especially China, to decide to depend less on the dollar.
Most central banks’ largest percentage of reserves are US dollars, which usually come in the form of US Treasury bonds. It would make sense for some of the central banks, especially China, to decide to depend less on the dollar.
A joint venture created by a new partnership between the Democratic Republic of Congo (DRC) and the United Arab Emirates (UAE) with a view to ending the illicit movement of precious metals from the DRC has just made its shipment of "fair gold".
The point I wanted to make: It is all about belief. If everyone agrees something is money, it is indeed money. One particularly engaged child interrupted me just as I was getting going on the rai stones of Yap to ask: Can fiat currencies...
Copper is what is used to move electricity or electrical signals from a source to a destination. And so it plays a very crucial role in electric vehicles which are powered purely by electricity.
Some financial institutions are offering ‘gold loans’ to business owners and individuals in lieu of their gold assets. Because of the collateral involved, these gold loans come at lower interest rates than the typical bank loans – and that counts in a high interest...
The gold market is seeing a strong rally during the first month of the year, driven by the changing macro outlook, geopolitical tensions, and increased demand. And more analysts are looking into central bank purchases for the reasons why.
According to WGC, the US became the largest market for Indian gold jewellery due to additional tariffs on Chinese jewellery to the US, which made the Indian exporters more competitive.
UAE exports-imports on track to still grow at 4% in 2023, says HSBC’s trade chief. Dubai: Global trade flows and supply chains have just bout managed to emerge from the long shadow of the Covid crisis. Even now, key commodities are still some months away...
Gold and cryptocurrencies have sometimes been seen as competing for investor attention … Of course, both crypto and gold can be a means of payment, a store of value and either is 'no-man's' liability," Widmer noted. "With the world becoming multi-polar, the latter point...
Eastern DRC is rich in natural resources, including gold, but President Felix Tshisekedi said the benefits do not reach ordinary people, with armed groups controlling smuggling to neighboring countries.
Eastern DRC is rich in natural resources, including gold, but President Felix Tshisekedi said the benefits do not reach ordinary people, with armed groups controlling smuggling to neighboring countries.
Eastern DRC is rich in natural resources, including gold, but President Felix Tshisekedi said the benefits do not reach ordinary people, with armed groups controlling smuggling to neighboring countries.
In 2023, Dubai Multi Commodities Centre plans to launch new products, and to move into a new HQ. The head of Dubai’s largest free zone speaks about the recent developments and plans for this year. Watch the Zawya video here.
High import duty on the yellow metal acts as an incentive to smugglers. Despite India’s busy wedding season, gold refining has come to a grinding standstill because refiners have been unable to sell bullion for more than a month.
Gold is trading at seven-month highs, up around 2.5% since the start of the new year. But what/who is behind this recent rally? With the macro outlook unchanged for gold, TD Securities points to a mystery buyer.
Gold is trading at seven-month highs, up around 2.5% since the start of the new year. But what/who is behind this recent rally? With the macro outlook unchanged for gold, TD Securities points to a mystery buyer.
The volume of trade, and the scope for using the renminbi for international payments, could grow as more countries diversify out of U.S. dollar risk. This development could challenge the U.S. dollar-based global financial system over time as the dollar's global reserve currency status...
TWELVE-YEAR-OLD Anand Balachandran, son of Oman-based engineer V. Balachandran and his accountant wife Sudha Pillai, literally breathes and sleeps football. As the Qatar FIFA World Cup began, Anand, who plays for his school team and is an ardent fan of Lionel Messi and Cristiano...
GOLD ended 2022 pretty much where it started, at about $1,800/oz. That may look a pedestrian performance but compared to other asset classes gold did exactly what gold ought to do: preserve wealth. Set gold’s performance against crypto – asset classes described as rivals. Towards...
Friedland’s company risked a lot of money on mineral prospecting in the Central African Copperbelt 25 years ago, despite the dangers of civil war and the looming threat of regime change. With the highest ore grades in the world, this project is destined to...
At the U.S.-Africa Business Forum, U.S. International Development Finance Corporation (DFC) announced active commitments across Africa totaling more than $11 billion. This includes $369 million of new active commitments announced as part of the U.S.-Africa Leaders Summit.
The market turbulence, geopolitics, and monetary policy challenges of 2022 has created a strong risk-off climate across the world. And while cross-currents and economic challenges have led to deep losses for traditional balanced portfolios, one haven asset has managed to prove its worth.
Gold prices have been on a general incline since the beginning of November as market turbulence, rising recession expectations and more gold purchases from central banks underpinned demand. Several analysts are projecting record highs for the precious metal in 2023.
The gold industry is working together on the Gold247, an initiative from the industry-backed World Gold Council that aims to make it easier to buy and sell gold digitally. The new system would allow physical gold to change ownership as easily as digital currency,...
The gold industry is working together on the Gold247, an initiative from the industry-backed World Gold Council that aims to make it easier to buy and sell gold digitally. The new system would allow physical gold to change ownership as easily as digital currency,...
US President Joe Biden has announced billions of dollars in support and investment for Africa at a summit with the continent’s heads of state. “The United States is all in on Africa’s future,” President Biden told the 49 African leaders attending the Washington DC...
UAE Central Bank sees a 13% increase in its gold reserve year on year. The value of gold reserves in the UAE central bank has increased 13 per cent year on year. The value of gold reserves of theCentral Bank of the UAE(CBUAE) reached...
The gold price held steady despite Wednesday’s announcement of a 50 bps hike in the Federal Funds Rate. The precious metal ended the day trading at $1,802 per ounce, down only $5.30 over the day. These price movements signal that gold has a significant...
Bitcoin adoption will need to be driven by the development of real uses rather than speculative interest, the report said. Bitcoin’s (BTC) value proposition is based on the cryptocurrency’s potential usefulness. Its level of future adoption, therefore, is more sensitive to changes in interest...
Transcript: SECRETARY BLINKEN: Well, good afternoon, everyone. I am extremely pleased to be joined by Congolese President Tshisekedi, with my friend the foreign minister as well – very good to see you – and the president of Zambia, Hichilema, with our – also my colleague...
German financial institution Deutsche Bank wants a seat at thegoldtable again as it applies to rejoin the London Bullion Market Association, according to media reports Friday. According to a report from Bloomberg, the German bank’s move back into the precious metal market is its...
Goldman Sachs expects gold, with its real demand drivers, to outperform the highly volatile bitcoin in the long term, the bank wrote in a Monday research note. Gold is less likely to be influenced by tighter financial conditions, meaning it is “a useful portfolio...
I am fundamentally bullish on both gold and oil with a long-term perspective from current levels. Between the two going into the first half of 2023, gold likely has the advantage on its side. Several times per monthfor Stock Waves, I publish short-form piece...
The World Gold Council today launched a multi-media marketing campaign in India to create awareness on gold’s role in an investment portfolio and drive adoption amongst new-age young investors. The campaign aims to reinforce gold as a versatile asset and highlight its strategic advantage...
The Democratic Republic of Congo is the world’s leading source of mined cobalt. However, the mineral has led to vast human, social, and environmental costs. For countries to achieve their net-zero goals, societies must fully embrace the electrification of existing and future infrastructure. The...
