Gold News

Prime Minister Theresa May has abandoned plans to hold a Commons vote tomorrow evening at 7pm on her Brexit deal with the EU, with insiders and critics all suggesting the deal would likely be defeated – a fourth defeat for the PM in less than two weeks.

A Commons statement is expected at 3:30pm today from the Prime Minister, the Leader of the House, Andrea Leadsom. and Stephen Barclay - the new Secretary of State for Exiting the European Union.

The FTSE 100 Index is down 2.49% today at 6,749.68 following sell-offs in the energy and mining sectors, as well as reservations about the state of international banking. The FTSE (Financial Times Stock Exchange) opened at 6,840 and fell steadily all morning, before hitting a low of 2.55% and showing some signs of resistance to further selling.

After weeks of rapid price growth, the price of Palladium has finally overtaken that of Gold for the first time in the precious metal’s history.

Move aside, Elton John. Rocket Man is old news. Now, it’s Tariff Man, and he’s burning out his own stock markets alone…

Dow Jones suffers fourth-biggest daily loss while S&P500 loses nearly $800 billion of market value as investors rush to sell in the wake of the President's comments and the fear that the US/China trade war isn't coming to an end after all.

Anglesey Mining has teamed up with Ireland’s QME Mining to investigate and assess the mining potential of its Parys Mountain site in north-east Anglesey.

A unique, scale model Ford GT has sold for $75,000 (£58,853.25) at auction with Sotheby’s today. The 18-carat replica smashed its initial estimate pricing of $30,000 - $40,000,

The price of gold shot up to £960.90 per ounce today following yesterday afternoon’s Bank of England statement, in which the BoE forecast the UK economy’s performance in the face of the various Brexit outcomes and warned of serious economic contraction with any ‘No Deal’ Brexit.

The US stock markets saw significant losses on Monday and Tuesday across the Dow Jones, Nasdaq, and S&P 500 as tech firms – particularly Apple, down -4.5% – experienced difficulties in the face of trade disruptions between the US, China, and neighbouring nations.

The Bank of England is reportedly stalling on the repatriation of £420 million worth of gold, approximately 14 tonnes, belonging to the South American nation of Venezuela. The Banco Centrale de Venezuela (BCV) submitted a request over two months ago to have the good delivery bullion bars exported back to the country’s capital, Caracas.

Palladium is closing in on parity with gold after hitting an all-time record value of £923.23 per ounce in the early hours of this morning as a supply deficit and speculation that the Chinese automobile industry will act drove demand up sharply either side of the weekend.

Central banks are being urged to consider switching to primarily digital currencies, in keeping with the increasing amount of non-cash payments made via contactless bank cards and apps, such as Apple Pay and Google Pay, as well as the prevalence of online banking.

Cypriot mining company Karo Resources, also known as Karo Mining Holdings, is to begin a platinum mining operation in central Zimbabwe, with an expected investment of $4.2 billion in order to assess the land, establish the mine, and begin operations.

The US stock markets experienced a sharp drop in share value on Monday as shares in tech giant Apple dropped by 5%, with the Dow Jones losing 2.3% (601 points) and the Nasdaq – a tech specialist market – losing 2.8% share value.

Pound Sterling has fallen in value today by 1.5 cents to $1.283 – lowest level in November so far – due to a combination of Dollar strength and further Brexit concerns.

The United States Mint is reported to have added a 1oz bullion Palladium coin to its production list for 2019. So far the Mint has produced proof editions in for the past two years, with strong sales for its limited issue quantities.

Cryptocurrencies require significantly more energy to generate one US Dollar in value according to a new paper published in the journal Nature Sustainability last week.

The latest figures from the European Commission have forecast growth for each of the member state of the European Union, with the UK, Italy and Denmark occupying the bottom three places for Gross Domestic Product (GDP) growth in 2018.

The forecast sees the UK and Italy slump into a joint last place for 2019, and the UK to be alone at the bottom in 2020, with the predictions made by the European Commission based on a soft Brexit deal.

The results of yesterday’s mid-term elections have been coming through steadily today, with the Democrats gaining enough seats for a majority in the lower house of Congress. Before the voting began, many journalists and pundits were predicting a ‘Blue Wave’ of anti-Trump voting and while it wasn’t quite realised, the Democrats still gained from the Republicans quite comfortably overnight.

Canadian financial services provider TD Securities believes that the continued increase in demand for silver will lead to a sharp rise in prices next year.

Investors are erring on the side of caution today as the United States heads to the ballot box for the Midterm elections. The halfway point in the current administration’s tenure is expected to see the House of Representatives, the lower house of Congress, swing from Republican to Democrat based on current forecasts.