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...market strategist at the World Gold Council....
...Gold prices have surged to a record high on growing expectations of US interest rate cuts added to months of prodigious buying of the safe haven asset by central banks and Chinese investors....
...The price of gold climbed to a record high on Wednesday, moving above $2,200 per troy ounce for the first time....
...Gold prices have largely held above $2,000 per troy ounce since late November, spurred along by the breakout of war in the Middle East a month earlier....
...Gold makes no yield, so it benefits from a reduction in interest rates, which dims the allure of bonds to investors....
...“It does look like we have new appetite in the gold market.”...
...Gold most recently had a nine-day winning streak in May 2021. Some analysts have linked the rally in gold to hopes that the US Federal Reserve would cut interest rates as soon as June....
...Investors haven’t shunned all gold miners. Canada’s Kinross Gold, under pressure from activist investor Elliott Management, has used surplus cash to buy back its shares....
...cent, dimming the allure of gold....
...China was the principal bright spot globally for gold jewellery and investment flows in 2023, according to industry group the World Gold Council’s quarterly report, as local property, equity and currency...
...Gold fell 1.1 per cent to $2,005.71 a troy ounce, its lowest level since December 12. Silver and platinum also fell by more than 1 per cent....
...That helped push investment demand for gold to a 10-year low of 945 tonnes....
...The price of gold hit a one-month low, with traders dumping precious metals and Treasuries as hope for a March rate cut from the Federal Reserve dimmed....
It’s not easy being green
Plus, Bayer resists break-up calls and Warren Buffett sours on one of Berkshire’s biggest business units
...The Delaware-registered lifestyle brand offered “solid gold”, sometimes bejewelled, cards to clients....
...The decision relates to a gold mine in Indonesia that environmental groups have long said threatens the habitat of the world’s most endangered great ape, the Tapanuli orangutan....
...Gold prices are headed for their first weekly decline since mid-December as waning expectations for an early interest rate cut in the US push the dollar higher....
...The board has appointed Ian Cockerill, currently deputy chair at Endeavour and the former chief executive of Gold Fields, a South African gold mining company, as CEO....
...Gold prices climbed by the most in two months on Wednesday after a dovish tilt from the Federal Reserve sent the US dollar sharply lower....
...Exchange traded funds alone hold over $200bn-worth of gold. Prices now obey the laws of finance. Sure, gold has its quirks — but what matters is relative value....
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