Global gold rush sees investors adamant despite rising prices
Post AMUGE
June 24, 2024
ONOME AMUGE IN LAGOS The price of gold has been on a sparkling run in 2024, increasing by 12 percent year-to-date. However, contrary to expectations that gold’s bullish run could be curbed by market saturation and gleaming price increase, reports indicate that the allure of the precious metal remains strong as investors continue to add […]
Gold is a good hedge over the long term, not the short term — CEO, US-based Sterling Foundation Management
Post AMUGEJune 24, 2024
ROGER SILK is the chief executive officer of Sterling Foundation Management, LLC, a leading provider of charitable planning solutions to financial, legal and tax advisors in the United States. His innovative approach has earned him a stellar reputation among investment, accounting, financial planning, and legal professionals, who seek his counsel in equipping their firms and […]
Afreximbank bets on gold as Africa’s economic safeguard
Post AMUGEMay 7, 2024
Onome Amuge Amid the economic tumults African countries are facing, Afreximbank, the multilateral development finance institution, has fanned the flames of hope, urging them to seize the moment and fortify their reserves with the gleaming brilliance of gold, as the precious metal’s value soars in the face of global headwinds. The foremost African trade financing […]
Iran-Israel tensions spark gold price jump as markets seek shelter
Post AMUGEApril 15, 2024
Business a.m. The price of gold has entered a period of consolidation, with gains seen above the $2,350 level in early trading on Monday. This comes after the precious metal saw a rebound from its recent corrective decline, which had seen the price fall from record highs of $2,432, set just a few days prior […]
Gold prices inch higher as geopolitical tensions boost safe-haven demand
Post AMUGEApril 11, 2024
Business a.m. Gold prices climbed on Thursday, bouncing back from a selloff the previous day.The safe-haven metal benefited from geopolitical risks and tensions, with investors seeking shelter from the turbulence. Spot gold rose 0.6 per cent at $2,345.56 per ounce, while U.S. gold futures also gained 0.6 per cent to $2,362.80. The latest data on […]
deVere’s Green reveals 2 unsung heroes of gold’s record-high surge
Post AMUGEApril 4, 2024
Business a.m. Two key but often overlooked factors are driving the gold price higher: China’s consistent accumulation of the precious metal and the expectation of a reacceleration of inflation in the United States. While these factors may have gone under the radar, they are having a significant impact on the gold market, observed Nigel Green, […]
Gold climbs to record high on Fed rate cut speculation
Business a.m.December 3, 2023
Gold prices surged to a record high as Federal Reserve Chair Jerome Powell’s remarks increased traders’ optimism that the U.S. central bank would finish its monetary policy tightening cycle and potentially begin cutting interest rates as early as March. Spot gold prices gained 1.6 per cent to reach a high of $2,069.10 per ounce, as […]
Gold tumbles as stronger dollar hurts appetite for safe-haven
Onome AmugeMarch 19, 2022
BY ONOME AMUGE Gold futures plunged as the dollar strengthened against its rivals, hurting appetite for bullion for buyers overseas, while the safe-haven demand for the yellow metal spurred by Russia’s invasion of Ukraine lost momentum. As a result, gold plummeted for a second consecutive week to its biggest weekly decline in percentage terms, since […]
Global demand for gold rises 52% in Q1 2021
Online EditorApril 29, 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 prices record marginal gain over falling US dollar, treasury yields
Onome AmugeApril 19, 2021
Onome Amuge Gold futures settled higher on Monday to record a seven-week peak as a weakened dollar and softened U.S treasury yields raised the precious metal’s appeal but appetite for riskier assets remained strong, analysts report. Spot gold inched closer to the $1,790 level as it traded at $1,783.88 per ounce, its highest since February […]