April Gold News 2017

The Russian Central Bank (RCB) added a further 25 metric tonnes of gold bullion to their official reserves in March. The figure is up from the 9 metric tonnes bought in February, but well below the 31 metric tonnes bought in January.

Since 2016 the RCB has been the largest buyer of gold, adding well over 200 metric tonnes of bullion. This tells us two important things. Firstly, the Russians believe the gold price is undervalued and secondly gold is a better investment than traditional assets such as equities, bonds and other paper assets. The RCB now owns 1,680 metric ...

Read more...

The gold price fell sharply overnight after Emmanuel Macron won the first round of the French presidential election, with the National Front’s Marine Le Pen coming second. Gold plunged 2.16% (£-22/oz t) in less than three hours, taking the precious metal's weekly loss to 3.48% (£35.66/oz t).

With Le Pen arguably needing a comfortable first round win in order to maximise her chances of becoming president, the result now makes Macron favourite to win the second round in May.

The nationalist, anti-EU politics of the National Front had made traders nervous about the prospect of a Le Pen victory, leading to increased ...

Read more...

Last night’s terror-related shooting in Paris has the potential to change the course of the upcoming French election. 

With a record number of voters still undecided, experts say the shooting of a police officer on the Champs Elysees could bolster support for National Front leader Marie Le Pen.

Last night’s attack comes only two days after police arrested two French nationals in possession of explosives in the city of Marseille.

Security in the country is far from assured and officials are concerned voters may stay at home on Sunday. A low turnout could benefit Le Pen who threatens to remove ...

Read more...

The gold price fell 2% yesterday following Theresa May’s decision to hold a snap general election on the 8^th of June.  The pound surged as high as $1.27 against the U.S. dollar, its highest levels since December 2016.

The currency markets believe an election victory for the Conservative party will strengthen their position during the upcoming Brexit negotiations.

Despite yesterday’s price fall ongoing concerns regarding North Korea and next Week’s French election should help to support the gold price. A senior figure in the North Korean government has accused America of turning the Korean peninsula into “the world’s biggest ...

Read more...

Sterling has surged over 1% against the U.S. dollar causing the gold price to fall to £1,005 per ounce following Theresa May's snap decision to hold a general election.

May said Britain needs certainty, stability and strong leadership following the triggering of article 50.  May hopes the election will result in a stronger Conservative government and kill off any idea of a second EU referendum.

The latest polls give the conservatives a double-digit lead over a labor party in disarray. Despite being in a commanding position there are number of dangers facing the After a shambolic showing in the 2015 election ...

Read more...