21 Oct 2021
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Updated: 01:44 23/10/21
The GOLD.co.uk News page aims to keep you up to date with the latest stories and headlines affecting the gold market as and when it happens.
We also report on silver, platinum, and palladium, as well as offering insight into the wider financial world, economic performance, and political influences and motivations that might impact upon the world of bullion.
21 Oct 2021
18 Oct 2021
New figures released by China's National Bureau of Statistics report GDP growth of just 0.2% in Q3 (July to September) – the weakest quarterly growth since records began in China.
At the heart of the issue is a power shortage. China has had to renege on its green energy pursuit in the short-term to keep the lights on, switching back to coal power at a rapid pace to keep the nation powered following a spate of blackouts.
12 Oct 2021
US markets suffered yesterday following a seven-year high in oil prices. Crude might have fallen back slightly today, but inflation is still hurting the working class across the world, and energy and fuel are key to these price rises.
J.P. Morgan's latest "Global Data Watch" report points to a back-and-forth pattern of inflation/deflation where energy and tech take turns dominating the markets, and blames the Fed for overheating the economy with so much economic stimulus.
07 Oct 2021
Russian president Vladimir Putin eased market tensions yesterday with a promise to increase gas supplies across Europe, with prices rocketing at present thanks to the supply chain issues hindering the transit of fuel, as well as other resources.
UK gas prices surged to an all-time record of almost 400 pence per therm yesterday, before settling back at 287p and then dropping to 267p following Russia's offer of assistance.
28 Sep 2021
US senator Elizabeth Warren (Democrat, Massachusetts) today told Federal Reserve chairman Jerome Powell that she would not back a second term as leader of the central bank, with Powell's term ending in February unless re-appointed.
At the Senate Banking Committee, Ms Warren said: “Your record gives me grave concern, and that makes you a dangerous man to head up the Fed”.
17 Sep 2021
Gold slipped yesterday from a peak of $1,795 to a low of $1,746 per ounce, before rallying slightly overnight and this morning back to $1,764.35. Strong bond yields and a stronger dollar have hurt the gold price, but optimism remains long term.
15 Sep 2021
The UK’s CPI figure has posted the largest rise on record today. Prices in August rose by 3.2% according to the Office for National statistics, up from 2% in July.
Despite the base effect of the eat out to help out scheme, price pressures are undoubtedly rising, and analysts warn that UK inflation could climb as high as 4 – 5% by the end of 2021.
14 Sep 2021
10 Sep 2021
British economic recovery almost ground to a halt in July according to the latest data from the Office of National Statistics.
Gross Domestic Product, better known as GDP, rose by a miniscule 0.1%; half a percentage point off the target forecasted and a mere 10% of the growth experienced in June.
08 Sep 2021
As the 'War on Terror' in Afghanistan ends in ignominy, another conflict potentially looms: the war for resources. According to Forbes, Afghanistan reportedly sits atop what could potentially be one of world's largest reserves of precious metals, minerals, and rare earth elements.
02 Sep 2021
Gold is currently $1,808 per ounce after shooting up last Friday following comments by Federal Reserve chairman Jerome Powell at the Fed's annual Jackson Hole conference on Friday.
Gold jumped from $1,789 per ounce to a peak of $1,818 before the markets closed for the weekend, and has stayed trading in a tight bandwidth between $1,808 to $1,823 per ounce since markets reopened on Monday.
26 Aug 2021
New data from the Office for National Statistics reports that 82% of transport and storage business are trading – a sizeable gap less than the average operational capacity of 90% for other sectors of the UK economy.
Gold has gained £5.64 per ounce today as a result of the report, pushing it further above the £1,300 milestone. The latest surge in demand follows an unusual “flash sale” two and a half weeks ago, but all losses have since been recovered in full.
19 Aug 2021
10 Aug 2021
04 Aug 2021
30 Jul 2021
Economic growth in the UK dropped sharply in July due to staff and material shortages, hitting the lowest levels in nine months.
According to the latest data from IHS Markit and the CIPS composite output index, growth dropped from 62.2 to 57.7 points – a 7.24% decline.
19 Jul 2021
14 Jul 2021
Both the US and UK have reported further rises to inflation this week, in further signs that central banks may be wrong to claim inflation is just a transitory issue.The consumer price index for June showed prices have risen by 5.4% year on year in the US, the highest rise since 2008, and far higher than the Federal Reserve’s target of 2%.
06 Jul 2021
29 Jun 2021