Gold News

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.

There was more bad news for the United Kingdom today as the governor of the Bank of England, Andrew Bailey, told ministers that the worst of inflation is yet to come.

Inflation in Europe's largest economy rose to 7.4% for April according to the latest figures from Destatis – Germany's federal statistical office. This makes it the highest level since unification.

Gold and silver have both risen in the past 24 hours following interest rate decisions from the Federal Reserve and Bank of England. Gold in GBP is up more than 3% today, with silver doing even better up 4%.

China's premier stock market the CSI 300 suffered a 4.9% fall today following the Chinese government's decision to begin mass testing residents in the nation's capital.

Market analysts are forecasting three 0.25 point rises to the Eurozone’s interest rate in 2022, in response to hawkish comments from policy makers within the ECB. This is despite the latest revision of Eurozone inflation.

Sterling has fallen today against the Dollar to its lowest value since late 2020, as the UK economy looks to be stalling once more. Bank of England policymaker Catherine Mann commented yesterday that the UK economy could already be in the grips of stagflation, saying “in some senses, we could say we’re already there”.

Nationwide has reported that annual house price growth year-on-year has now hit 14.3% - the highest since November 2004. Last month it was 12.6% - just another part of the new cost of living crisis as inflation punishes the UK.

Russia’s vast gold reserves were officially sanctioned yesterday by the US and other allies, on concerns that the country could use the precious metal to shore up its struggling economy.

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 set a new all-time record high of $2,078.80 per ounce on Tuesday, following growing economic instability in light of sanctions upon Russia amidst the ongoing invasion of Ukraine.

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%.

Brent crude has peaked today at just over $99 per barrel following last night's mobilisation of Russian troops into eastern Ukraine on what Russian president Vladmir Putin described as a "peacekeeping" mission.

Gold and silver have both kicked off the week with further gains on growing tension over Ukraine and Russia. Increasing rhetoric and warnings of a potential invasion have spooked stock markets, and spurred safe haven buying from investors.

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...

It was a tale of two halves yesterday as Bitcoin slumped to a six-month low of $33,800 whilst the Swiss franc – a traditional safe haven currency – surged to a six-year high against the euro.

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.

UK inflation rose by 0.3% points between November and December to put inflation at 5.4% overall, according to the Office for National Statistics (ONS) - the highest levels seein in Britain since the early 1990s.

Brent crude oil today hit $88 per barrel – the highest since October 2014 - following a drone strike at an oil storage site near Abu Dhabi airport in the United Arab Emirates.