Global demand for gold rises 52% in Q1 2021

Onome Amuge Global consumer demand for gold jewellery surged 52 per cent year-on-year in the first quarter of 2021 amid a drop in bullion prices and global economic recoveries from the covid-19 pandemic, the World Gold Council said in its gold demand trends report published on Thursday. According to the report, consumers bought 477.4 tonnes […]

Gold plunges deeper amid spikes in dollar, US treasury yields

Onome Amuge Gold prices continued a downward slide on Monday while the dollar and US treasury yields gained higher grounds, forcing investors to dump the non-yielding metal to focus on more attractive assets. Spot gold shed 1.2 per cent to $1,679.67 per ounce, its lowest since early June, U.S gold futures also stumbled 1.2 per […]

Illegal mining, smuggling cost Nigeria $3bn in seven years–Buhari

Grim picture as AfDB projects $236.7bn GDP loss for Nigeria, others

President Muhammadu Buhari has revealed that Nigeria lost about $3 billion to smuggling and illegal mining of gold between 2012b 1nd 2018. A statement issued by Femi Adesina, his special adviser, media and publicity, the president stated this at the presentation of locally mined gold bars by the Presidential Artisanal Gold Mining Development Initiative in […]