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Live Metal Prices
Metal Ounce Gram
Gold £1,310.51 £42.13
Silver £19.662 £0.632
Platinum £902.25 £29.01
Palladium £2,105.00 £67.68

Updated 13:30 08/05/21

Gold News

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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.

Press and Media Inquiries | Contact our News Editor

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07 May 2021

After a volatile start to the week, gold has made strong gains the past two days, breaking through the $1,800/£1,300 per ounce barrier that has proven a resistance point for prices in recent weeks. Silver also enjoyed strong gains, up 4.56% in the past week.

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07 May 2021

The Bank of England has updated its forecast for the UK's economic performance in 2021, with GDP growth forecast to rise to 7.25% - up from the previous 5% forecast. Unemployment is also expected to peak at just below 5.5% at the end of Q3 this year; still higher than the approximate 4% of early 2020, but a lot lower than the speculated 12%.

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05 May 2021

Precious metal prices are volatile this week, as gold and silver saw price pressure yesterday after nearing two-month highs. The price pressure came as Treasury Secretary Janet Yellen suggested that interest rate increases may be needed to keep the US economy from overheating following a year of fiscal stimulus and upcoming spending plans from President Biden.

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29 Apr 2021

The gold price is continuing to hold near the $1,800 per ounce barrier of recent weeks, as markets remain unmoved by last night’s Federal Reserve monetary policy meeting, and the unveiling of the next spending plan from President Biden.

$1,800 per ounce is proving a new psychological barrier for the precious metal, with resistance coming each time it nears that level.

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20 Apr 2021

Officials in France have been left perplexed and excited by the shock discovery of a hoard of gold bars and coins in a dilapidated house marked for renovation. The collection of gold bars and coins is valued at €600,000 (just over £515,000) making it an impressive find.

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16 Apr 2021

Turkey has banned the use of all cryptocurrencies and crypto assets such as bitcoin for payments, striking a blow to fans of the digital asset. The new law comes as Turkey’s economy grapples with significant turmoil; with inflation and currency devaluation plaguing the country following the dismissal of the head of the central bank.

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13 Apr 2021

Average house prices have reached a new record high in March, despite the ongoing economic uncertainty caused by the Covid-19 pandemic. House prices climbed to an average of £254,606 based on figures from Halifax and their House Price Index report.

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08 Apr 2021

Hungary's central bank, the Magyar Nemzeti Bank (MNB), has announced the purchase of 63 tonnes of Good Delivery gold bars. In a press statement issued yesterday, the bank revealed it had acquired 5,040 bars weighing 400 ounces each, taking the nation's holdings from 31.5 tonnes to 94.5 tonnes.

Based on last month's fix prices, the average for the month was approximately $1,720 per ounce of gold. Multiplied by the 2,016,000 ounces purchased, the price paid by Hungary is in the region of $3.484 billion.

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30 Mar 2021

Archegos Capital, the hedge fund owned by Bill Hwang (formerly of Tiger Management), is at the centre of attention in the financial world following a 'fire sale' on Friday; the forced liquidation of positions due to margin calls and the need to free up funds to meet these repayment obligations.

Japanese bank Nomura Holdings, Mitsubishi UFJ Securities, and Switzerland’s Credit Suisse all announced that Archegos' losses would hit them as a result, with $6 billion being touted as the global total lost.

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23 Mar 2021

A host of economic issues has added further uncertainty for the global economy in the past few days. Both geopolitical concerns as well as the ongoing coronavirus pandemic have served to give gold a small boost following its recent price pressure.

Having fallen as low as £1,213.79 per ounce earlier this month, gold has been making gradual gains since, and is now up just over 4% and trading at around £1,260 per ounce today.

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18 Mar 2021

A dovish Federal Reserve attempted to reassure markets last night that interest rates will remain low for some time yet, regardless of improving economic recovery, and potential inflation. Despite some initial signs of success, market uncertainty appears to have remained this morning.

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16 Mar 2021

Following months of delay, the United States has finally approved a coronavirus rescue package, worth $1.9 trillion. The ‘American Rescue Plan’ authorises several federal spending measures, as well as providing financial relief in the form of cheques to millions of American families following a year of the Covid-19 pandemic.

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09 Mar 2021

Rising bond yields have pushed gold to a ten-month low in Dollars, as markets price in economic recovery and rising inflation.

Since reaching a new Dollar record in August 2020 gold has come under pressure from increasing optimism over the potential end of the Covid-19 pandemic.

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03 Mar 2021

Chinese officials have aired their concerns over the stock market bubble in America and Europe, cautioning against over-commitment to stocks and shares for fear of a market collapse.

China is warning that without restraint now we could see a repeat of the Dot Com Bubble in 2000-2001. Bloomberg subsequently reported a big impact to Chinese stocks on Tuesday, with the CSI 300 index down 2.1%.

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03 Mar 2021

Chancellor Rishi Sunak has pledged billions more in support for businesses and individuals in another pandemic-focused UK Budget.

As is common in recent years, many of the measures were announced prior to the official statement, and confirm that financial support will continue for several months as the UK, hopefully, eases restrictions after a year of the Covid-19 pandemic.

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02 Mar 2021

Factories in the UK, EU and US have all reported increasing costs, in what could be some of the first indications of inflation to come in the months ahead.

Yesterday’s PMI figures showed that factory output in the UK also fell to the lowest rate in nine months, when growth returned following the end of the UK’s first lockdown.

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24 Feb 2021

UK unemployment rose to a rate of 5.1% at the end of 2020, the highest it has been since 2016. Despite some signs of improvement, employment remains a key risk to the UK’s economic recovery, and analysts are warning things will get worse in the coming months as wage subsidy schemes come to an end.

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17 Feb 2021

Sterling is continuing to rise against both the Dollar and Euro this week, and reached a 34-month high against the Dollar, putting additional pressure on metal prices here in the UK.

The Pound was trading as high as $1.39498 so far this week, a price last seen in April 2018, and marks the continuation of an impressive rally for Sterling in the past year.

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11 Feb 2021

The price of platinum has today hit a peak of £925.02 per ounce; the highest the precious metal has been since September 2013.

Platinum has gained £128.51 per ounce so far this month (16.40%) but around £110 of those gains have come in the past week, with several factors driving the latest platinum price surge.

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