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Updated 06:10 26/08/19

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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'

After a calm week for investors, this afternoon has seen a flurry of movement centred around the
US-China trade war.

President Donald Trump took to Twitter shortly after to continue his longstanding criticism of the
Fed, going so far as to question whether Powell or Chinese President Xi Jinping was the greater
enemy to the US economy.

23 Aug 2019, 5:27 p.m.

A host of global economic uncertainties recently have seen investors turning to safe-haven assets, driving the price of gold to register several new all-time highs in Sterling.

Gold is not the only precious metal to rally however. Silver has been climbing too, and has the potential to make further gains.

16 Aug 2019, 2:50 p.m.

Data experts at Deutsche Bank are forecasting another quarter of economic contraction in Germany, resulting in a technical recession that could last into next year.

Germany’s industrial production has been impacted by the US/China trade war, which has hit supply chains and commercial demand.

14 Aug 2019, 5:06 p.m.

The US Federal Reserve has announced it plans to cut interest rates by 0.25%, bringing the new benchmark to between 2% and 2.25%.

Committee members voted 8-2 in favour of cutting rates at a meeting yesterday evening, with Eric Rosengren (Boston Fed president) and Esther George (Kansas City Fed president) voting against the decision.

1 Aug 2019, 2:37 p.m.

The fourth Central Bank Gold Agreement, signed by the European Central Bank and 21 other national central banks, is due to expire on September 26 this year.

The decision not to renew the CBGA could be the starting pistol for European national banks to renew investing in physical gold, in a diversification effort to rival that of Russia and China for the past year.

29 Jul 2019, 2:45 p.m.

Following several weeks of voting, Boris Johnson has won the Conservative Leadership contest, and will tomorrow formally become the Prime Minister of Great Britain and Northern Ireland.

23 Jul 2019, 12:15 p.m.

The UK Border Force last month seized $5 million worth of gold bars travelling from the Cayman Islands to Switzerland via London, officials have confirmed.

The gold haul, weighing 104 kilograms or 3,343.68 troy ounces, is suspected to be connected to South American drug cartels and with the intent of being laundered.

22 Jul 2019, 1:11 p.m.

The US Dollar is overvalued according to the latest International Monetary Fund report. The report is likely to please President Trump, who has repeatedly argued for the Federal Reserve to act and help make the Dollar cheaper so that America can compete with the planned interest rate cuts in the Eurozone.

18 Jul 2019, 11:25 a.m.

Gold gained $32 per ounce in 12 hours yesterday, with the majority of the rise coming after Powell’s speech to the House Committee on Financial Services. Powell told the committee that the Fed’s own interest-rate team – known as the FOMC – was beginning to favour a cut to protect the American economy.

11 Jul 2019, 4:29 p.m.

The Indian government has increased the import duty on gold from 10% to 12.5% this week, in an attempt to address the nation’s deficit.

Gold is the second largest import in value terms, behind fuel, making it an easy target for taxation, and it hit a record-high in Rupees last month, peaking at 99,666 rupees per ounce.

10 Jul 2019, noon

The Pound Sterling has fallen over half a cent this afternoon following two days of poor economic data.

Bank of England chairman Mark Carney admitted to the LGA conference in Bournemouth this afternoon that Q2 2019 experienced "considerably weaker" economic growth than expected, and warned of continued disappointing growth figures in the short term.

2 Jul 2019, 4:56 p.m.

Investors in Neil Woodford’s Woodford Equity Income Fund have been told that they will have to wait at least another 28 days before they can withdraw their money from the fund.

Link Asset Services, who are the corporate director of the £3.7 billion Equity Income Fund, say the move is to give Woodford and his team more time to make the necessary changes from illiquid to liquid assets.

2 Jul 2019, 11:41 a.m.