DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Top related locs:
Top related orgs:

Search resuls for: "World Gold Council"


11 mentions found


☆ Gold prices steady as focus shifts to Powell's speech
  + stars: | 2023-01-10 | by ( Ashitha Shivaprasad | ) www.reuters.com   time to read: +2 min
SummarySummary Companies U.S. CPI report due on ThursdayHawkish tone from Fed could prompt profit-taking - analystJan 10 (Reuters) - Gold prices were steady on Tuesday, with cautious traders largely focusing on Federal Reserve Chair Jerome Powell's speech for insights into the U.S. central bank's rate-hike trajectory. Spot gold held its ground at $1,872.79 per ounce, as of 0333 GMT. Investors' focus is on Powell's speech at a central bank conference later in the day. "Gold prices are hitting a key resistance at the $1,875 level ... A hawkish tone in Fed Chair Powell's speech later today could prompt some near-term profit-taking in gold," said IG Market strategist Yeap Jun Rong. "However, market is on the watch for a downside surprise in the U.S. CPI to support the less-hawkish rate-hike expectations, which could translate to upside for gold prices."
☆ Gold at $4,000? Analysts share their 2023 outlook as inflation, recession fears linger
  + stars: | 2022-12-22 | by ( Charmaine Jacob | ) www.cnbc.com   time to read: +1 min
Gold prices could surge to $4,000 per ounce in 2023 as interest rate hikes and recession fears keep markets volatile, said Juerg Kiener, managing director and chief investment officer of Swiss Asia Capital. There is a good chance the gold market sees a major move, he said, adding "it's not going to be just 10% or 20%," but a move that will "really make new highs." According to the World Gold Council, central banks bought 400 tonnes of gold in the third quarter, almost doubling the previous record of 241 tonnes during the same period in 2018. Kiener also said investors would look to gold with inflation remaining high in many parts of the world. "Gold is a very good inflation hedge, a great catch during stagflation and a great add onto a portfolio."
☆ Factbox: Russian gold taken out of exchange-traded fund stockpiles
  + stars: | 2022-12-21 | by ( Peter Hobson | ) www.reuters.com   time to read: +4 min
In an analysis about investors shunning Russian gold, Reuters examined lists of gold bars owned by eleven large funds. By late November, the proportion of Russian gold in the stockpiles of eight had fallen. SPDR Gold MiniShares, whose gold is stored by ICBC Standard, saw an almost 50% fall in the amount of Russian gold it holds. Russian gold bars refined before March 7 this year are still eligible to own and trade, it said. GRANITESHARESGraniteShares said it did not distinguish between different brands of good delivery gold including pre-war Russian gold, and that it had not asked its custodian, ICBC Standard, to reduce its holdings of Russian bullion.
☆ Analysis: Russian gold removed from some Western funds after Ukraine
  + stars: | 2022-12-21 | by ( Peter Hobson | ) www.reuters.com   time to read: +6 min
But the data, compiled by Reuters, shows Russian gold being removed at a significantly faster pace than that from other countries. One said he had asked the bank paid to store his fund's gold to allocate as little Russian metal as possible to it. Russian gold removed from such funds was often reassigned to other owners in the same location, the bankers said. JP Morgan, which stored around 1,050 tonnes of gold for the funds, trimmed Russian gold by 13% and non-Russian gold by 9%. However, the two largest funds, BlackRock's (BLK.N) iShares Gold Trust and the World Gold Council's SPDR Gold Shares, actually increased their proportion of Russian gold.
☆ China's reported gold reserves rise for first time since 2019
  + stars: | 2022-12-07 | by ( ) www.reuters.com   time to read: +1 min
Dec 7 (Reuters) - China's central bank said on Wednesday it had added 32 tonnes of gold worth around $1.8 billion to its reserves, the first time it has disclosed an increase since September 2019. The additions bring China's reported holdings at the end of November to 1,980 tonnes, worth around $112 billion. China has the world's sixth-largest official national gold reserves after countries including Russia, Germany and the United States, which is the biggest with 8,133.5 tonnes. China's reported holdings have risen to 1,980 tonnes worth around $112 billion. The reported increase in China's gold reserves was part of data released by the People's Bank of China showing its foreign exchange reserves rose more than expected in November.
☆ HSBC will have to share custody with JPMorgan of $52 bln in gold bars
  + stars: | 2022-12-01 | by ( Peter Hobson | ) www.reuters.com   time to read: +2 min
[1/2] Gold bars are displayed during a photo opportunity at the Ginza Tanaka store in Tokyo September 7, 2009. HSBC had been the sole custodian for SPDR Gold Trust, also known as GLD, since it launched in 2004. The bank currently stores about 910 tonnes of gold for GLD in London -- around a quarter of all the gold held for ETFs globally. Cavatoni said the WGC's agreement with JPMorgan allowed it to store gold in the United States and Switzerland but for the time the fund intended continue storing all its gold in London. HSBC said: "We're pleased to continue acting as a custodian for the World Gold Council's SPDR Gold Trust."
☆ Crypto crash and gold sell-off show there’s no place for investors to hide
  + stars: | 2022-11-10 | by ( Paul R. La Monica | ) edition.cnn.com   time to read: +5 min
Bitcoin prices are currently hovering around $16,500, down from a level of $20,000 just a week ago. Gold, like bitcoin, then surged in the latter part of 2020 as a sort of safe haven trade. Why buy gold or digital assets when the greenback is proving to be the king of currencies? Bitcoin prices have been notoriously volatile over the past few years, but they have still done better than many major stock market indexes. One venture capitalist who focuses on bitcoin and crypto assets agreed that FTX’s problems won’t derail the entire digital assets universe.
☆ Gold retreats from three-week high as firmer dollar dulls appeal
  + stars: | 2022-11-07 | by ( Ashitha Shivaprasad | ) www.reuters.com   time to read: +2 min
Spot gold was down 0.6% at $1,670.29 per ounce, as of 0230 GMT. It's not unusual to see prices retrace against a large move from the prior session, gold is pulling back as the dollar gently rises, said City Index analyst Matt Simpson. Investors will now focus on the U.S. inflation data due later this week. "U.S. inflation data has the ability to make or break gold. Whilst markets currently favour a 50 basis-point rate hike, a hot inflation print would likely see odds for a 75 bps increase and send the dollar higher and gold lower," Simpson added.
☆ Record central bank buying lifts global gold demand, WGC says
  + stars: | 2022-11-01 | by ( ) www.reuters.com   time to read: +2 min
LONDON, Nov 1 (Reuters) - Central banks bought a record 399 tonnes of gold worth around $20 billion in the third quarter of 2022, helping to lift global demand for the metal, the World Gold Council (WGC) said on Tuesday. In total, the world's gold demand amounted to 1,181 tonnes in July-September, up 28% from 922 in the same period in 2021, the WGC said. Among large buyers were the central banks of Turkey, Uzbekistan, Qatar and India. "Looking ahead, we anticipate central bank buying and retail investment to remain strong," said WGC analyst Louise Street. GOLD DEMAND (tonnes)** Source: World Gold Council, Gold Demand Trends Q3 2022Reporting by Peter Hobson Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.
☆ Gold will keep losing its irrational luster
  + stars: | 2022-09-27 | by ( Robert Cyran | ) www.reuters.com   time to read: +3 min
NEW YORK, Sept 27 (Reuters Breakingviews) - Imagine telling gold bugs a decade ago that a pandemic, war in Europe and 8% U.S. inflation were coming. Believers say gold has been a store of value for millennia and offers a hedge against inflation and societal problems. While gold bulls worry about central banks debasing currencies by printing more, miners also keep extracting gold. About 205,000 tonnes worth some $11 trillion is held above ground and annual production has increased 26% since 2010, according to the World Gold Council. It was $1,763 a decade ago, according to the World Gold Council.
☆ India's young investors prefer crypto to gold and 'boring' stocks
  + stars: | 2022-03-03 | by ( Diksha Madhok | ) edition.cnn.com   time to read: +8 min
New Delhi CNN Business —Indian businesswoman Swati Daga first bought bitcoin in 2017, when the cryptocurrency was trading well under $3,000. “I find stock markets boring,” she told CNN Business, adding that she enjoys the “thrill” and “recklessness” that comes with investing in volatile currencies. The growth is driven by younger investors — mostly under the age of 35 — and many of them are coming from smaller cities and towns, founders of two of India’s biggest crypto exchanges told CNN Business. WazirX also has over 10 million users, and called 2021 a “phenomenal year” for crypto trading in India. On-again, off-again relationshipThe excitement over crypto is rising in India despite the country’s on-again, off-again relationship with digital currencies.
<< prev 2 next >>
Total: 11