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Updated 08:24 13/04/21

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June Gold News 2019

The European Central Bank has given tentative approval to the Italian coalition government for it to amend the official terms of ownership with regards Italy’s national gold reserves.

La Banca d’Italia is the official owner of Italy’s 2,451.8 tonnes of gold bullion. The right-wing Lega party is keen to amend the law to clearly state that the bank holds the gold specifically on behalf of the Italian state.

28 Jun 2019, 11:41 a.m.
Liam Sheasby

US President Donald Trump has criticised the Federal Reserve - once again - for raising interest rates at Christmas and refusing to cut them following their most recent committee meeting.

Trump turned to Twitter to express his unhappiness with the situation, and claimed that America’s gross domestic product would be higher were the Fed willing to compromise.

25 Jun 2019, 10:50 a.m.
Liam Sheasby

Gold has once again surged, climbing past $1,386.25 per ounce this morning - the highest Dollar price in nearly six years. The 24 hour gain of $44 (3.3%) followed yesterday’s Federal Reserve meeting, in which the stance of the Fed appears to be turning dovish.

20 Jun 2019, 1:32 p.m.
Michael Pinson

The gold price peaked at $1357.32 per ounce on Friday, following an attack on oil tankers in the Strait of Hormuz, situated between Iran and the United Arab Emirates.

17 Jun 2019, 11:49 a.m.
Michael Pinson

An Australian tech company has made a significant breakthrough in gold mining by finding a replacement for cyanide in the refining process.

The research came after a decade of collaborative work with the Commonwealth Scientific and Industrial Research Organisation (CSIRO), which reported last August that there had been a breakthrough in the testing.

10 Jun 2019, 3:21 p.m.
Liam Sheasby

The Bank of England will do more to scrutinise investment funds to protect those who invest in them in future, according to chairman Mark Carney.

The announcement comes in the wake of the Woodford incident, in which stock picker Neil Woodford barred investors from withdrawing from his equity income fund due to an overwhelming demand to back out.

10 Jun 2019, 12:25 p.m.
Liam Sheasby

The gold – silver ratio is currently at its highest level since 1993. The ratio - how many ounces of silver buys an ounce of gold - is used by investors as price measure for the two precious metals, and might suggest that silver is undervalued at present in comparison with gold.

10 Jun 2019, 11:48 a.m.
Liam Sheasby

A high profile UK stock picker has shocked thousands of investors by announcing that they cannot withdraw their money from his investment fund until the end of the month.

The equity income fund, run by Neil Woodford and his Woodford Investment Management group (WIM), made the extraordinary announcement yesterday.

5 Jun 2019, 11:10 a.m.
Liam Sheasby