Gold | - Part 3

Gold Climbs to Four-Week High on Dollar’s Drop and Haven Demand

LAGOS (Capital Markets in Africa) – Gold climbed to a four-week high as a weaker dollar and uncertainty over the impact of Donald Trump’s policies bolstered demand for a haven. Palladium rose, heading for the biggest five-day surge since November. Bullion has increased every trading session this year, with spot prices rising as much as 1.4 percent to $1,179.43 an ounce on Thursday. Gold is advancing as the Bloomberg Dollar Spot Index’s retreat from the highest in…

Dollar Rises to 13-Year High as U.S. Stocks Rebound, Gold Sinks

Posted on by The Editorial Team

The dollar climbed to the highest level since 2003 against the euro and gold plunged as the prospect of a steeper path for U.S. interest rates filtered through markets. U.S. stocks rebounded from the worst day in two months. Financial shares led gains in major American equity benchmarks, while rate-sensitive stocks slipped after U.S. 10-year yields reached the highest level in more than two years. The greenback extended its advance against major and emerging-market peers after the Federal Reserve’s…

Top Forecaster Says Gold May Recover ‘Shine’ on Global Risks

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Gold’s worst plunge in 14 months may yet reverse. Looming risks from the U.S. presidential election in November to Britain starting talks to leave the European Union next year may boost its role as a haven, said Barnabas Gan, an economist at Oversea-Chinese Banking Corp. in Singapore. Increasing shale oil output in the U.S. is also likely to cool the surge in crude prices, curbing inflation, he said. “As quickly as gold…

Gold Digger Turns Alchemist Chasing Billions Hidden in Waste

Posted on by The Editorial Team

JOHANNESBURG, Capital Markets in Africa: With gold output in South Africa mired in a multiyear decline, the country’s biggest producer is turning to an overlooked and potentially cheaper source of supply: the dump. About 6.5 million ounces valued at $8.5 billion is buried inside mammoth mounds of discarded mine waste at sites owned by Sibanye Gold Ltd. They’re leftovers from more than five decades of excavation west of Johannesburg. But there’s a catch. The traces are so small that…

Mauritius central bank seeks to buy gold from Australia

Posted on by The Editorial Team

PORT LOUIS (Reuters) – Mauritius central bank plans to buy gold from Australia to keep the Indian Ocean economy’s currency from extreme fluctuation, its finance minister said on Monday. In 2009, Mauritius bought two tonnes of gold from the International Monetary Fund, valued at an equivalent of $72 million at the time. Finance Minister Seetanah Lutchmeenaraidoo said the central bank will buy an undisclosed amount of gold from Australia’s Perth Mint. He has said the…

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