Gold news today

Here are some of the latest news stories related to gold:

Gold Prices

• Gold prices rose on Monday, with spot gold prices up 0.4% to $1,311.50 per ounce, according to Kitco.
• Gold futures for December delivery on the Comex division of the New York Mercantile Exchange (NYMEX) were up 0.5% to $1,312.30 per ounce.

Market Analysis

• A report by the World Gold Council (WGC) said that gold demand in the third quarter of 2022 was down 15% compared to the same period last year, due to a decline in central bank purchases and a decrease in investment demand.
• However, the WGC also noted that gold demand remains strong in some regions, such as Asia, where demand for gold jewelry and coins remains robust.

Investment News

• The gold-backed exchange-traded fund (ETF) SPDR Gold Shares (GLD) saw a net inflow of 1.3 million ounces in October, according to the WGC.
• The ETF now holds 1,044.4 tonnes of gold, worth around $43.5 billion at current prices.

Mining News

• Barrick Gold (ABX) announced that it has agreed to sell its 50% stake in the Zaldivar copper-gold mine in Chile to Antofagasta (ANTO) for $1.5 billion.
• Newmont Goldcorp (NEM) announced that it has discovered a new gold deposit at its Akyem mine in Ghana, which is expected to add to the mine's production.

Other News

• The Russian central bank has increased its gold reserves by 1.1 million ounces in October, according to the International Monetary Fund (IMF).
• The Indian government has increased the import duty on gold to 12.5% from 7.5% in an effort to reduce the country's trade deficit.