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February Gold News 2018

Platinum prices fell overnight following yesterday’s ruling in the German courts that cities in Germany had the right to ban older diesel vehicles in order to tackle air pollution, with the DAX stock index falling sharply as shares in Volkswagen, Daimler and BMW all suffered in response to the news.

Local courts in Stuttgart and Dusseldorf approved the ban but appeals by the states of North Rhine-Westphalia and Baden-Württemberg meant the matter was escalated to the Federal Administrative Court in Leipzig. The Federal Court met yesterday and ...

28 Feb 2018, 1:19 p.m.
Liam Sheasby

A gold mining company has found what appears to be the mother lode of one of its newer mining sites, worth an estimated €546 million.

Conroy Gold operates the Tullybuck mine site near Clontibret, County Monaghan. The first drill hole at the site penetrated 1000m into the ground and found seven gold lodes with high grade gold, some registering as much as 24g per tonne of gold ore. Typically, gold ore deposits register an average of 2-3g per tonne.

In a statement issued to the Irish Stock Exchange, ...

28 Feb 2018, 10:07 a.m.
Liam Sheasby

A report published on Monday by the National Bureau of Economic Research shows a correlation between a drop in pregnancy rates and imminent recession.

The report, titled ‘Is fertility a leading economic indicator?’, is the first of its kind and could offer new insight into predicting financial difficulties on a national or international scale.

The paper used birth rate information from a period of 1989 to 2016 and matched these figures against the GDP rates across that period as a prediction mechanism for recession. Over 100 million births occurred in the US in that period, and pregnancies fell ...

27 Feb 2018, 12:39 p.m.
Liam Sheasby

In a speech at Coventry University yesterday, Labour leader Jeremy Corbyn revealed that he wants the UK to stay part of a permanent customs union with the EU.

The move, designed to tempt Tory rebels to vote with Labour and against the government, was broadly welcomed by investors as the Pound value stabilised after being driven down during the day by the US Dollar’s continued growth. Change and uncertainty scares off investors, but this new information allows experts to make better predictions for the future state of the economy and markets.

27 Feb 2018, 12:32 p.m.
Liam Sheasby

It’s been an odd week for gold prices and the US Dollar. Gold fell in value from Monday to Thursday as the US Dollar bounced back from a slump in value (again) but began to rise steadily again today. Fears about inflation and subsequent interest rate rises are making the markets jumpy.

These fears were expected to be settled by the latest minutes from the Federal Reserve’s monthly meeting in January, but the announcement was effectively ‘change is coming… but not today’. Many ...

23 Feb 2018, 12:54 p.m.
Liam Sheasby

The predicted demand for gold in India is failing to appear, according to new reports. The Indian Rupee has struggled in recent months despite the weak US Dollar, forcing gold prices higher and as such reducing demand.

The rise in price is deterring investors and coupled with the bull run in the global stock markets, investors in India are opting for equities and mutual funds rather than putting their money into gold bullion or the Rupee.

With a lack of investors interested in ...

21 Feb 2018, 4:55 p.m.
Liam Sheasby

Russia could be looking utilise a new gold trading market as a ‘fire escape’ currency, in a targeted move away from the US Dollar and the financial and trade restrictions placed against them.

Russia has been under a combination of US sanctions and other sanctions from the West for the past three years and has suffered economically from this and the rapid increase in fracking in the US, which has in turn decreased oil prices. Russia responded by forming an oil duopoly with Saudi Arabia to ...

20 Feb 2018, 3:35 p.m.
Liam Sheasby

Gold prices have risen by more than 3% globally as the US Dollar struggles yet again. A combination of the fear of inflation, plus a dash of caution from investors, has seen investors move away from USD to take risks in other markets but as a precaution not away from gold.

The greenback is broadly weaker as of the past few weeks, with inflation looming large in the US. Investors returned to the Dollar briefly when the global stock markets ‘corrected’ themselves recently (read: lost $4 trillion from being too bullish) but have since moved away again. According ...

 The Office for National Statistics has released its latest report on the UK inflation rate, which has stayed at 3% since December. The UK recorded a six-year high in November at 3.1%, but the 0.1% drop from December was expected to repeat itself in January.

The lack of reduction in inflation is a concern for the Bank of England, who are targeting 2% inflation within the next two years. It is expected that the Bank will raise interest rates in the ...

16 Feb 2018, 9:56 a.m.
Liam Sheasby

The Japanese Yen is considered one of the safest currencies to invest in during times of market turbulence. Where the Euro is thought of as a brave investment, the Yen is a safe bet, and both are preferred to the US Dollar at present.

The Yen is also considered a good indicator of investor fear. When the value of the Yen rises, it usually precedes an increase in market volatility. At present the currency is enjoying a slight resurgence, which last week was linked to the rapid slow down of the stock ...

14 Feb 2018, 4:40 p.m.
Liam Sheasby

January was an unusual month. It began with a surprising change of tact from the North Korean government. A phoneline to South Korea previously closed by Kim Jong-Un was reopened, with contact made to the South expressing their wishes to engage in diplomatic talks in the coming weeks. These talks have since led to a united Korea competing in the Winter Olympics in Pyeongchang.

With one of the major driving forces behind gold price rises now playing peacemaker, it’s no surprise that for the first week of January prices were very stable for both gold and silver. At the same ...

13 Feb 2018, 12:14 p.m.
Liam Sheasby

It has been an unusual few months for Pound Sterling. The Bank of England, predicting 1.5% economic growth in 2018, announced an unexpected rate rise of 0.25% last November and pushed the UK’s interest rates back up to 0.5% - the level they were between 2009 until 2016. On the surface it wasn’t that big a move, but in reality the repercussions saw the Pound become one of the best performing global currencies.

With the global economy growing at a solid 4%, ...

9 Feb 2018, 4:13 p.m.
Liam Sheasby

The booming US stock market saw a record fall on Monday, dropping 1500 points at its worst and ending 1175 points down on the start of the day's trading.

The drop in share prices across the Dow Jones had worldwide repercussions, resulting in an estimated $4 trillion lost globally. Japan's Nikkei dropped by nearly 5%, the FTSE 100 was down 2.5%, the CAC 40 in France and Germany's DAX both dipped 3%, South Korea's Kospi fell by 1.5%, and Australia's S&P ASX 200 fell 3.2%.

The ...

7 Feb 2018, 10:44 a.m.
Liam Sheasby

A survey of urban mining published last month found that Europe’s landfill sites are proving a rich vein for precious metals, with an expected uptake in the pursuit of recycling to reclaim some of this wealth.

Urban mining is the term given to the act of reclaiming metals and elements, whether from products, buildings or waste. An article published by Reuters estimated this waste – 18 million tonnes per year – to run into the billions in physical worth.

With smartphones, tablets, laptop computers, as well as parts from modern cars and electric cars, this sort of reclamation ...

5 Feb 2018, 4:54 p.m.
Liam Sheasby

The London Bullion Market Association has released its forecasts for precious metal markets in 2018, with expert opinion divided on whether prices will rise much or not, and how stable these rises will be.

The organisation is for over-the-counter gold and silver traders (such as ourselves) and acts as a representative, producing a Good Delivery List of approved gold and silver that has reached a high standard.

Each year, the LBMA has industry experts from members and other financial institutions contribute to their annual predictions. They then publish their estimations online, which for 2018 you can view here.

2 Feb 2018, 4:33 p.m.
Liam Sheasby

The United States government has fined Deutsche Bank and UBS a combined $45 million dollars for ‘spoofing’ in the gold market.

The term refers to the act of placing fake orders but quickly cancelling them, to make the market look busier than it is and to manipulate prices as a result. This manipulation is a criminal offence in the US under a provision within the 2010 Dodd-Frank financial reforms.

Spoofing incidents are very rare, with only three other people having been charged previously by the US Justice Department for spoofing. The combined ...

2 Feb 2018, 10:12 a.m.
Liam Sheasby