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Sébastien de Montessus was fired as chief executive of the gold miner after sending an alleged irregular payment instruction
...The rally in both gold and bitcoin also seems to have been driven by momentum traders such as commodity trading advisers, or CTAs, which have been strong buyers of futures contracts linked to both assets...
...Ewa Manthey, a commodities strategist at ING, said the rally still “has further to go”....
...“It has been the quietest, most confusing rally,” said Nicky Shiels, precious metals analyst at MKS Pamp, a Swiss gold refinery and trading house....
Cheap targets abound, with some juniors reaching point where investment needs of projects look overwhelming
...In recent months, the precious metal has gained a second wind from what analysts describe as “phenomenal” purchases by Chinese consumers seeking a safe place to park their cash after local property and stock...
Yellow metal’s latest rally boosted by Chinese investors saving for a rainy day
...Gold funds accounted for the bulk of this, shipping $13.5bn, the second-worst tally ever, while broad commodity vehicles shed $3bn, an all-time high....
...That has probably frightened people on the fragility of the markets,” said Ryan McIntyre, managing partner at Sprott Inc, a precious metals investor with more than $25bn in assets under management....
Precious metal can gain even if the US economy heads to a soft landing
...“Surging demand in gold’s number one consumer nation shows no sign of letting up,” said Adrian Ash, director of research at BullionVault, an online precious metals investment service....
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And private equity’s insurance trade
Sébastien de Montessus says taking time to consider position after allegations of ‘serious misconduct’
Central banks are seeking safety in times of turmoil
London-listed company given four-week exclusivity period by Italian oil major to make bid
Chinese equity funds accounted for vast majority of the new money, but foreign investors preferred ex-China vehicles
...The price of gold could soon break record levels if the Israel-Hamas conflict worsens, the head of the world’s biggest miner of the precious metal has said....
...Not only is it a precious metal with a history of coinage, but it is used in photovoltaic (or solar) energy....
...Energy ETFs have been a recent bright spot while funds for precious metals like gold have suffered outflows, according to data provided by Invesco....
...Gold reached its previous record high of $2,072.49 per troy ounce in August 2020 when the coronavirus pandemic was hitting the US economy, leading investors to snap up the precious metal....
...In other news, Enviva, the largest US wood pellet producer, filed for bankruptcy yesterday after a bet on the high prices of the commodity following Russia’s invasion of Ukraine backfired, causing the company...
Environmentalists object to resuming exploration in only habitat of the endangered orangutan
...The mandate is to look for deals across all assets, including base and precious metals in addition to commodities in demand for electric vehicle production....
...“In the precious metals world, they are becoming more comfortable with the emerging markets.”...
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