Gold news bloomberg

Here are the latest gold news and updates from Bloomberg:

Gold Prices

• Gold prices rose to a one-week high on Tuesday, supported by a weaker dollar and concerns over the global economy.
• Spot gold prices were up 0.4% at $1,313.50 per ounce, while gold futures for December delivery were up 0.5% at $1,314.30 per ounce.
• The dollar index, which measures the greenback against a basket of currencies, fell 0.2% to 97.43, making gold more attractive to investors.

Market Analysis

• "Gold is benefiting from a combination of factors, including a weaker dollar, concerns over the global economy, and a lack of clarity on the trade front," said Mark To, a commodities strategist at Bank of America Merrill Lynch.
• "We expect gold prices to continue to rise in the near term, driven by a combination of technical and fundamental factors."

Investment Demand

• Investment demand for gold has been strong in recent weeks, with investors seeking safe-haven assets amid global market volatility.
• The World Gold Council reported that gold ETFs saw a net inflow of 14.4 tonnes in August, the largest monthly inflow since January.
• "Investors are seeking safe-haven assets, and gold is one of the most popular choices," said John Reade, chief economist at the World Gold Council.

Central Bank Reserves

• Central banks around the world continue to add to their gold reserves, with the International Monetary Fund (IMF) reporting that global gold reserves rose to a record high in August.
• The IMF reported that global gold reserves stood at 3,346.4 tonnes at the end of August, up 1.1% from the previous month.
• "Central banks are diversifying their reserves and adding to their gold holdings, which is a positive sign for the gold market," said To.

Mining News

• Barrick Gold Corp. and Newmont Goldcorp Corp. announced a joint venture to develop a new gold mine in Nevada, USA.
• The joint venture, called Nevada Gold Mines, will be one of the largest gold mines in the world, with an expected production of 1.5 million ounces per year.
• "This joint venture is a significant development for the gold industry, and we expect it to drive growth and investment in the sector," said Mark Bristow, CEO of Barrick Gold.