Gold News

Global stock markets suffered a domino effect of sell-offs today after a heavy day of losses on Wall Street yesterday, with the Dow Jones losing 800 points to record its worst day in eight months.

The price of gold rose 2.35% in response, from yesterday’s lows of £899.14 per ounce to a high of £924.27 today.

The CEO of one of the largest platinum mining firms is leading the calls for a new, commemorative platinum coin in honour of the late Nelson Mandela and the centenary of his birth.

Roger Baxter – the CEO of the Minerals Council South Africa – is advocating the platinum coin in the hope it will rival the Krugerrand; one of the world’s best-known gold coins.

The UK economy registered zero growth in August – below the predicted 0.1% growth rate - but is still up 0.7% in the three months to August, causing a headache for analysts and investors alike as they work out whether the economic slowdown is a natural correction or a sign of worse to come.

The US 10-year Treasury Bond yield rose today to a seven-year high as the United States approaches full employment and wage growth begins to pick up pace. Investors are concerned that these factors are driving up inflation and that the US economy may reach its limits soon. This caution is deterring investment in Treasury Bonds, which has seen the US Treasury offer better yields.

The EU Commission believes that the new Italian coalition is in breach of the common rules for debt and deficit repayment, with Valdis Dombrovskis and Pierre Moscovici citing “significant deviation” from the 2019 budget targets expected of Italy.

A major business conference was held in South Africa last week to discuss the new Mining Charter implemented by the country’s Mineral Resources minister, Gwede Mantashe, the week before.

The latest briefing from French bankers Société Générale says that the financial services company currently prefers to invest in silver rather than gold, citing favourable prices.

Researchers at Harvard University have found that gold particles, attached to an anti-inflammatory agent, may improve the recovery from muscle injuries – offering potential raft of physical therapy treatments for anyone ranging from athletes to the elderly.

Gold demand could be set to rise in the next decade thanks to the environmental benefits of the precious yellow metal, with gold mining and refining listed as one of the lowest greenhouse gas emissions sources for all metals.

The new information could spark a new wave of demand for investment gold as the drive for environmentally-friendly mining and sustainability in the economy grows.

The United States, Canada, and Mexico have finally agreed upon a new North American Free Trade Agreement after months of negotiations and resistance against concessions from all sides.

The deal, known as the US Mexico Canada Agreement (USMCA), will be signed in November by Presidents Trump, Trudeau, and Nieto.

Palladium is starting to make a comeback thanks to industrial demand and short supply, jumping up in price by more than 20% in US Dollars over the past six weeks.

At £812.62 per ounce, it's now less than £100 cheaper than gold; traditionally the most popular precious metal.

America is winning the trade war with China and the US stock markets are at record high levels, but can the USA keep this up? Can President Trump's economics provide for America in the long-term?

The Italian coalition government agreed a new national budget last night, after weeks of negotiations between the ruling parties. The deal sets a limit of 2.4% GDP for Italy’s deficit as the new national leadership seeks to meet their election promises by increasing public spending.

The US Federal Reserve has announced another interest rate rise, up by a quarter percent from 2% to 2.25%. The decision is the eighth rise in rates since 2015, the fifth since President Trump came to office in 2017, and the third under the leadership of Jerome Powell, Chair of the Fed.

The Chancellor of the Exchequer, Philip Hammond, has announced that the UK government’s Autumn Budget statement will now take place two days earlier – on Monday October 29th, putting it exactly five months before the UK leaves the European Union.

The Canadian Space Agency (CSA) has tendered a raft of new projects this week as part of a larger inter-agency mission with the likes of NASA and Roscosmos in order to build a base orbiting the Moon.

The lunar orbit project, dubbed Deep Space Gateway, will act as an international research post allowing scientific projects and experiments to be conducted, including lunar mining.

Luis Caputo resigned his position as Governor of the Central Bank of Argentina this week after a mere three months in the role. The Argentine Peso fell by 7% against the US Dollar following the announcement, before recovering to a 4.65% loss as the news sunk in.

The Euro is making gains against the US Dollar this week following comments the President of the European Central Bank (ECB), Mario Draghi, made to senior officials in Brussels that inflation is set to rise in the Eurozone, while Deutsche Bank believe that the Eurozone will make significant gains thanks to the US/China trade war increasing the demand for European exports.

Oil prices hit a four-year high of $82.03 per barrel of Brent Crude after OPEC, the Organization of the Petroleum Exporting Countries, chose not to boost production over the weekend as requested by US President Donald Trump. 

Chinese officials have accused the United States of trade bullyism, following the latest tariffs implemented on exports from China to America. The tariffs, which came into effect on Monday at 5am BST, are worth $200 billion, with $60 billion in retaliatory tariffs from China on their US imports.