Gold Market News

Gold prices slip on technical selling and strong U.S. dollar. Stocks continue decline after falling over 600 points in previous session. Gold last traded at $1,201 an ounce. Silver at $13.97 an ounce.

November 13, 2018

Bank of England refuses to hand over Venezuela's gold – report - RT--11.9.18
The Bank of England is refusing to release around $550 million in gold owned by Venezuela back to the country. The country expresses concern about Caracas's intentions for the 14 tons of gold bars.

U.S. Dollar Strength Is Unsustainable - Broadway Gold- Kitco--11.12.18
One expert sees potential for gold and silver to shine as the current environment is unsustainable. The government can continue to print money for a while, but at some point there is going to be shock to the system and investors will turn to commodities.

The BoE Refuses To Release Venezuela’s Gold Worth $550 Million - Reports - Kitco--11.8.18
The Bank of England is reportedly refusing to release gold bars worth just over $550 million to President Nicolas Maduro. Maduro is attempting to repatriate at least 14 tonnes of gold the Bank of England is currently storing.

Commerzbank: Gold To Benefit Long Term From U.S. Election Outcome- Kitco--11.7.18
According to Commerzbank, gold may benefit two ways from the midterm elections. The Democrats won control of the House while Republicans maintained control of the Senate. This could put an end to any further tax cuts which could have a negative impact on the U.S. dollar.

India's Booming Economy Expected To Firm Up Gold Demand- Forbes--11.7.18
The five-day festival known as Diwali starts today. Diwali is a popular time to buy gold coins and jewelry as gifts for loved ones. In the past, the increased demand has been enough to move gold prices to the upside.

Venezuela Seeks To Repatriate $550 Million Of Gold From Britain - Reuters Sources- International Business Times--11.5.18
Venezuela is seeking to repatriate about $550 million in gold bars from the Bank of England because of fears it could be caught up in international sanctions on the country.

Turkey, Russia and China buying gold at record-breaking pace- Ahval News--11.3.18
Turkey, Russia and China have broken a record in terms of gold purchases as Central banks around the world are increasing their gold reserves at an incredible pace.

What Central Banks Bought Gold In 2018?- Kitco--11.2.18
Central banks are not only purchasing more gold lately, but there is a number of new buyers entering the market. Both Poland and Hungary have become the first European Union nations to buy gold since the start of the century.

Consumer And Central Bank Buying Push Gold Demand Up In Q3- Seeking Alpha--11.2.18
Increased gold buying by consumers and central banks has pushed overall demand for the metal up slightly in the third quarter, according to the World Gold Council. Gold demand came in at 964.3 tons in Q3, 6.2 tons higher year on year.

Gold buying by central banks hits its highest level in almost three years- CNBC--11.1.18
Central banks around the world upped their gold spending to the highest level in almost three years, according to the World Gold Council. More than 148 metric tons of gold was purchased by national banks in the last three months.

U.S. Dollar Weakness To Drive Gold, Silver Higher In 2019 — Natixis- Kitco--11.1.18
French Bank Natixis is bullish on gold and silver and it expecting gold prices to average $1,275 an ounce in 2019 and $1,300 on 2020. Natixis believes a weaker U.S. dollar will drive gold prices in the coming years.

Countries in transition should give more priority to gold- Emerging Europe--10.30.18
The ratio of total gold holdings to total international reserves seems to be rather low. Gold has played and will continue to play a pivotal role for transition nations in the foreseeable future.