Latest gold news
Here are the latest gold news updates:
Gold Prices
- Gold prices rose to a one-week high on Monday, driven by a weaker US dollar and concerns over the global economy. Spot gold was up 0.4% at $1,311.50 per ounce. (Source: Reuters)
- Gold prices fell 0.2% to $1,308.50 per ounce on Tuesday, as the US dollar strengthened and investors awaited the outcome of the US-China trade talks. (Source: Bloomberg)
Central Banks
- The Reserve Bank of India (RBI) has increased its gold reserves by 14.5 tonnes in the quarter ended June 30, taking its total gold holdings to 608.8 tonnes. (Source: Business Standard)
- The People's Bank of China (PBOC) has increased its gold reserves by 33.8 tonnes in the quarter ended June 30, taking its total gold holdings to 2,163.4 tonnes. (Source: Xinhua)
Investment
- Gold ETFs (Exchange-Traded Funds) saw a net inflow of $1.1 billion in July, the largest monthly inflow since January, as investors sought safe-haven assets amid global economic uncertainty. (Source: ETF.com)
- The World Gold Council (WGC) has launched a new gold-backed cryptocurrency, called Gold Standard, which allows investors to buy and hold gold-backed tokens. (Source: CoinDesk)
Mining
- Newmont Goldcorp, the world's largest gold miner, has reported a 12% increase in gold production in the second quarter, driven by higher production at its Nevada operations. (Source: MarketWatch)
- AngloGold Ashanti, a South African gold miner, has reported a 14% increase in gold production in the second quarter, driven by higher production at its Mponeng mine. (Source: Mining Weekly)
Market Analysis
- A technical analyst at TD Securities has predicted that gold prices could rise to $1,400 per ounce in the coming months, driven by a weaker US dollar and higher inflation expectations. (Source: Kitco)
- A commodities analyst at Goldman Sachs has predicted that gold prices could fall to $1,200 per ounce in the coming months, driven by a stronger US dollar and lower inflation expectations. (Source: Bloomberg)
These are just a few of the latest gold news updates. If you're interested in staying up-to-date with the latest gold news and prices, I recommend following reputable sources such as Kitco, Bloomberg, and Reuters.