Afreximbank bets on gold as Africa’s economic safeguard

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

Gold investors, analysts apprehensive as data show gold's low consumption

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

Gold hits week high despite Q3 decline

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

Gold hits week high despite Q3 decline

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, […]

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 […]