In a high value market like gold, having access to timely, precise information is key to providing an accurate picture of that market. In a move towards this, the London Bullion Market Association and the Bank of England have agreed to report their gold holdings with just a one-month time lag from now on.
October Gold News 2020
Following months of discussions to try and resolve a post-Brexit trade status for the UK, Prime Minister Boris Johnson has stated that trade talks between the UK and EU are now ‘over’.
The announcement throws any further talks into doubt and makes a no-deal Brexit the likeliest outcome in the next few weeks.
A British appeals court has overruled a decision which legitimised the UK government backing Juan Guaidó as the legitimate president of Venezuela, rather than the incumbent Nicolas Maduro.
Maduro, socialist successor to Hugo Chavez, is seeking to withdraw all of Venezuela's gold from the Bank of England – approximately $1 billion – but the UK government has so far denied Venezuela access, citing alleged electoral interference based on claims made in the South American nation.
UK Gross Domestic Product (GDP) is down by 9.2% on pre-covid levels according to the Office for National Statistics (ONS), with a warning from the ONS that GDP is growing once again, but far slower than expected due to a declining rate of growth.
Cryptocurrency derivatives and exchange traded notes (ETNs) will soon be banned from sale to retail consumers in the UK, in a blow to fans of digital currency.
This follows a ruling by the Financial Conduct Authority (FCA), who have said that they consider cryptocurrency derivatives and ETNs to be potentially harmful to retail investment customers due to their extreme volatility and a lack of understanding from investors.
In this article, we continue on from last week's gold forecasting and move on to discussing silver - particularly focusing on the proposed Green New Deal by Democrats Bernie Sanders and Alexandria Ocasio-Cortez. We assess how 'President Biden' could adopt such a scheme to satisfy America's Left, as well as provide public investment as part of an approach to steer the US away from recession like many European nations are currently facing.
The US Presidential Election takes place in under a month on November 3rd, and many investors are wondering what impact the vote will have on the gold price, as well as other precious metals.
As things stand, former Vice President Joe Biden has a lead in the polls over the incumbent President Donald Trump, but polling is never wholly accurate and many choose not to disclose when they are voting for conservative candidates in elections.
For a central bank holding billions in your nations reserves, a building renovation presents additional challenges far and above the norm.
Across the space of two days, in a massive, high security operation, De Nederlandsche Bank moved 14,000 gold bars and about 1,000 boxes of gold coins to a temporary vault.
The Royal Mint has revealed its highly anticipated new design for its range of Britannia coins, starting with the 2021 coins due to be released on October 19th.
Philip Nathan's classic design remains, but now with additional 'micro-detail' design elements to make counterfeiting near impossible, as part of an industry-wide attempt to prevent counterfeiting.
Kazakhstan has joined several other countries in boosting their gold reserves this year, as coronavirus impacts the economies of countries worldwide.
The expansion of both foreign currency reserves and gold brings the country’s reserves up to 388.3 tonnes, a record for the country.