Hints and tips:
Related Special Reports
Sébastien de Montessus was fired as chief executive of the gold miner after sending an alleged irregular payment instruction
FT Money wants to hear from reader investors
...The precious metal has been breaking out recently amid higher than expected inflation in the US, and general anxiety over everything from geopolitics to the November presidential elections to where monetary...
...trader at Heraeus, a refinery of precious metals....
...One option is to find cleaner ways to make the steel, including electric arc furnaces to recycle scrap metal and direct reduction facilities....
...“It has been the quietest, most confusing rally,” said Nicky Shiels, precious metals analyst at MKS Pamp, a Swiss gold refinery and trading house....
An all-time high for the yellow metal is a sign drawdown investors should examine their reasons for holding it
...China’s Yintai Gold last month stepped in to buy Osino Resources for C$368mn in cash ($272.53mn). This topped that of Osino’s local rival Dundee Resources....
...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...
Buying spree, which was third-strongest monthly figure since 2021, came even as investors exited tech
...In addition, central banks have mopped up a further $155bn of gold as the likes of the People’s Bank of China have increasingly favoured the metal for their foreign exchange reserves....
...The new currency “shall be anchored in and backed or covered by a composite basket of foreign currency reserves and precious metals received [mainly gold] and valuable minerals”, according to a ruling Mnangagwa...
...“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....
...After big gains earlier this month the yellow metal has been trading close to the $2,200 per troy ounce mark, and even briefly rose as high as $2,222 on Wednesday....
Precious metal can gain even if the US economy heads to a soft landing
...Not only is it a precious metal with a history of coinage, but it is used in photovoltaic (or solar) energy....
...And the yellow metal isn’t the most expensive ever. After adjusting for inflation its peak was July 2020, with real prices on a downward path since....
...“It’s the geopolitical risk premium that has come in for gold,” said Nicky Shiels, metals strategist at MKS Pamp, a Swiss precious metals refiner and trader....
Sébastien de Montessus says taking time to consider position after allegations of ‘serious misconduct’
...The most important variable for gold prices, historically, is real rates, the opportunity cost for holding a yield-free metal....
...The yellow metal is every bit as persistent as the musical hooks of eighties popsters Spandau Ballet....
...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....
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....
...The emirate of Dubai, a key precious metals trading hub, already has a large foothold in Africa’s ports and logistics network, the fortunes of which are closely tied to commodities....
International Edition