
The Royal Mint reveals special 15kg Platinum Jubilee gold coin
The Royal Mint has unveiled a single issue gold coin, the largest ever produced by the mint, to commemorate the Queen’s Platinum Jubilee next week.
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The Royal Mint has unveiled a single issue gold coin, the largest ever produced by the mint, to commemorate the Queen’s Platinum Jubilee next week.
The Bank of England announced today that it would raise interest rates by another quarter percentage point (0.25) to 0.75%, with forecasts pointing towards 8% inflation late next month. The US Federal Reserve announced the same move last night at its monthly meeting, citing growing inflationary pressures.
Gold is currently up 1.81% for the week to $1,929.60 per ounce - a gain of $34.31 - showing the demand for safe havens whilst stock markets suffer the turmoil of economic uncertainty. Brent crude oil has passed $111 per barrel, whilst natural gas prices are up over 35%.
The UK is facing a “generational cost of living crisis” according to The Telegraph newspaper, with the Bank of England raising interest rates to 0.5% as new data forecasts 7.25% inflation by April.
The US dollar's latest rally has increased its value against other major currencies including the pound, euro, yen, and Swiss franc – pushing bullion prices down in the process.
With gold and silver prices down, perhaps now's a window of opportunity to stock up on an historically trusted safe haven and hedge against the inflation that experts have said for months and months was just transitory...
A gold penny featuring the portrait of King Henry III has sold at auction for a sensational fee of £648,000 (USD $873,073). The coin, discovered in the Devon countryside last September, was sold through auctioneers Spink & Sons for at the weekend.