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Updated 23:10 23/01/19

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January Gold News 2019

Zimbabwe is seeking to be readmitted to the London Bullion Market Association this year and accredited as a trusted gold producer. The African nation was removed from the LBMA in 2008 after failing to meet its required 10 tonne output for the year but has since renewed its gold mining and consistently met this target for three years.

23 Jan 2019, 2:04 p.m.

The chairman of the Bank of England, Mark Carney, told MPs in Parliament yesterday that the financial markets are now quite confident that there will not be a No Deal scenario for Brexit, with many firms factoring in the strong opposition to Theresa May’s Brexit deal as the same opposition to no-deal.

17 Jan 2019, 12:55 p.m.

Prime Minister Theresa May suffered the largest defeat in history in the House of Commons last night, with 432 MPs voting against her Brexit Withdrawal Agreement and only 202 in favour.

The result means that the PM’s deal is now dead, and with the EU saying that this was the only deal available to the UK for leaving it now brings up a very realistic prospect of a No Deal scenario.

16 Jan 2019, 12:11 p.m.
  • Deal would create the world’s largest producer of gold
  • Similarities with Barrick Gold’s deal to buy Randgold in September for $6.1 billion
  • Company will be called Newmont Goldcorp and listed as NEM
  • Combined output of 7.9 million ounces of gold in 2017
  • Forecasts of $100 million saved per year following $1 to $1.5 billion of asset sales
15 Jan 2019, 5 p.m.

US financial services giants JP Morgan today reported a drop in earnings, resulting in their first missed profit forecast in 15 quarters.

JP Morgan recorded a $7.1 billion profit for the year – a 70% increase vs 2017 – but the fiscal results published show that JP Morgan earned $1.98 per share in the last quarter, compared to estimates of $2.21 per share.

15 Jan 2019, 1:42 p.m.

The latest figures from the World Gold Council and other agencies show that gold-backed ETFs grew by 3% in 2018, with an additional 69 tonnes purchased last year – a value equivalent of $3.4 billion US Dollars.

10 Jan 2019, 11:11 a.m.

Twenty Conservative MPs have rebelled against their own party and voted with the opposition yesterday in favour of an amendment to the latest Finance Bill; the first time the UK Government has lost a Finance Bill vote since 1978 – 41 years ago.

9 Jan 2019, 1:27 p.m.

The US Mint has reported that demand for its gold and silver American Eagle coins was an 11-year low; the weakest point since just prior to the financial crisis.

8 Jan 2019, 11:20 a.m.