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Updated 12:46 22/10/19

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Gold News


Welcome to the BullionByPost gold and silver news service. Our news team aims to cover all the latest headline stories affecting the gold and silver bullion markets, as well as reporting on other precious metals, the state of major currencies, and movements in the stock market.

We provide commentary on the state of the economy and wider current affairs or political decisions that impact the markets, giving our customers as much insight as possible and allowing them to make educated choices when it comes to buying and selling in the precious metals market, whether it's for investment purposes or a collection.

Press and Media Enquiries | Contact our News Editor | BBP's 'Countdown to Brexit'

A breakthrough in Brexit talks last week has helped strengthen the Pound Sterling and the Euro against the US Dollar.

Gold might have calmed down a little of late but still made an 8% gain in August alone, and in USD terms gold is up $216.93 (17.01%) in the past six months of trading.

21 Oct 2019, 3:35 p.m.

The Pound Sterling touched the $1.30 mark this morning as investor confidence in a Brexit deal passing in the near future grows, with the German investment bank Berenberg saying there is now a 75% chance of an orderly Brexit.

Despite MPs voting for an amended Withdrawal Agreement on Saturday rather than the exact deal agreed with the EU, many believe the government has the numbers to pass the Withdrawal Agreement at the second try now that the Hard Brexit / no-deal loophole is gone - a red line for many MPs.

21 Oct 2019, 12:15 p.m.

The International Monetary Fund has issued a stark warning to central banks across the world that they need to be smarter with their policy decision else risk wasting the ‘limited ammunition’ they possess to stop recession taking hold.

IMF counsellor Gita Gopinath did praise central banks such as the ECB and the Fed for their interest cuts and how that had benefited the growth forecasts by around half a percent, but she stressed that governments needed to avoid reliance on central banks to manoeuvre them out of difficult economic situations.

16 Oct 2019, 12:35 p.m.

The price of gold has been bumped down from £1,178.86 per ounce down to £1,159.20 following news from Bloomberg that the UK and EU are closing in on a last-minute Brexit deal.

The gains for Sterling put it above the $1.275 mark for the first time since late June, but the currency is still some way off the exchange rate from when the Brexit referendum result was delivered in 2016 at around $1.48.

15 Oct 2019, 5:12 p.m.

Investment manager Neil Woodford has been removed from running his now-infamous £3.5 billion equity income fund – four months after the fund was first suspended pending liquidity problems.

Despite Woodford’s desire to re-open the fund, administrators Link Fund Solutions has ruled that the fund should now be wound up, and all remaining investments returned to their owners.

15 Oct 2019, 12:14 p.m.

Palladium has this morning set a new all-time price record of $1,701.50 per ounce, following two weeks of continual price records.

The metal set a new record of $1,627.53 on Thursday September 19, then set a new record of $1,636.60 just a day later. A weekend surge saw palladium hit $1,664.50 last Monday, and again the price has jolted higher today.

30 Sep 2019, 12:25 p.m.

The Supreme Court has ruled that the prorogation of Parliament was unlawful, in a historic decision for British politics.

In another blow to Boris Johnson, the Supreme Court has declared the suspension of Parliament void, and MPs look set to return to Commons in the coming days.

24 Sep 2019, 11:40 a.m.

The US Federal Reserve has cut interest rates for the second month in a row, dropping down to 1.75-2%. The move is similar to the European Central Bank's decision to cut rates earlier this month, with the global economic slowdown cited as the reason for both of the moves.

20 Sep 2019, 5:36 p.m.

Fears of possible military conflict in the Gulf grew this weekend, following a number of drone attacks on Saudi Arabian oil facilities on Saturday.

Despite denying responsibility for the attack, several countries have come forward to blame Iran, reigniting the simmering tensions from June’s oil tanker attacks.

16 Sep 2019, 4:09 p.m.

The European Central Bank has announced the return of quantitative easing – only eight months after initially ending the stimulus measure.

The decision, likely the last major action by Mario Draghi before he departs as ECB president, is designed to counter the economic regression currently being experienced in the Eurozone.

12 Sep 2019, 5:06 p.m.

The amount of gold mined and refined each year is expected to increase by 17.4% by 2023 according to analytics firm GlobalData. The growth should be at least 2.5% each year for the next five years, with a total output of 132.1 million ounces.

12 Sep 2019, 10:44 a.m.

Official data from China’s Central Bank shows that the country has now added 99 tonnes of gold to the nation’s reserves as of the end of August, worth an estimated $7.574 billion.

Given that gold has made 12.48% gains in the past three months in Dollar terms, and 25.06% for the past year, it’s unlikely that the People’s Bank will slow down its hunt for buying gold – especially when they are keen to avoid the US Dollar in their reserves, and will have little interest in the fragile Sterling or Euro currencies.

10 Sep 2019, 4:54 p.m.

Korea’s NH Nonghyup Bank has started offering its customers silver bars following a surge in demand for safe haven assets.

The move makes Nonghyup the fourth bank in Korea to offer retail investors silver bars, in a trend that could spread across the Asian banking sector.

6 Sep 2019, 5:28 p.m.

This week the silver spot price has risen by almost 8%, climbing from a £13.96 per ounce to the current price of £15.10 per ounce, and peaking slightly higher at £15.29.

In Dollar terms, silver is at $18.39 – the highest it has been since April 2017. This week’s gains show a substantial rise in demand, but can it continue?

30 Aug 2019, 4:58 p.m.