March Gold News 2022

Nationwide has reported that annual house price growth year-on-year has now hit 14.3% - the highest since November 2004. Last month it was 12.6% - just another part of the new cost of living crisis as inflation punishes the UK.

Russia’s vast gold reserves were officially sanctioned yesterday by the US and other allies, on concerns that the country could use the precious metal to shore up its struggling economy.

The Bank of England announced today that it would raise interest rates by another quarter percentage point (0.25) to 0.75%, with forecasts pointing towards 8% inflation late next month. The US Federal Reserve announced the same move last night at its monthly meeting, citing growing inflationary pressures.

Gold set a new all-time record high of $2,078.80 per ounce on Tuesday, following growing economic instability in light of sanctions upon Russia amidst the ongoing invasion of Ukraine.

Gold is currently up 1.81% for the week to $1,929.60 per ounce - a gain of $34.31 - showing the demand for safe havens whilst stock markets suffer the turmoil of economic uncertainty. Brent crude oil has passed $111 per barrel, whilst natural gas prices are up over 35%.