July Gold News 2018

A team of South Korean treasure hunters has re-discovered the lost shipwreck of the Russian cruiser ‘Dmitrii Donskoi’, just off the coast of the Korean island of Ulleungdo in the Sea of Japan.

The sunken vessel is believed to contain almost £100 billion worth of gold bullion bars and coins, weighing approximately 200 tonnes, in around 5,500 boxes or containers.

Gold might have had a slow few months but it will bounce back, according to the World Gold Council. The organisation has published its latest review of 2018, looking ahead to the remainder of the year.

Auctioneers and specialty dealers Sotheby’s have announced they are to hold a gold-only auction for the first time in their 274-year history. The brokers said that the rising demand for gold was the incentive for hosting such a lucrative event, which has been titled ‘The Midas Touch’.

Newly released inflation figures from the Office for National Statistics show that last month the UK rate of inflation was 2.4% - less than market analysts had predicted having accounted for rising oil prices.

June was a disappointing month for bullion and other commodities. Prices fell across all three major currencies and all four major precious metals as the US trade tariffs ramped up their obstructions to free trade between the EU, China, and America...

The European Commission has released new growth forecasts for the remainder of 2018 and for 2019, dropping down to a 2.1% growth rate for this year from the initially predicted 2.3%.

In a stunning exclusive interview with The Sun, US President Donald Trump has slammed UK Prime Minister Theresa May over her government’s approach to Brexit, warning that a soft Brexit would damage trade relations between the US and UK – potentially scuppering a deal at all.

The Opera browser for Android phones is in beta testing of a new cryptocurrency wallet. The move is backed by Etherium and is designed to allow users an easier route into investing in digital currencies.

The US Government has published plans to implement further trade tariffs against China, following the recent $34 billion tariff spat.

China has called the threat “totally unacceptable” and are continuing to press the World Trade Organisation (WTO) to take action against what they believe to be unlawful behaviour from the United States.

Sterling registered its largest daily loss for three and a half weeks against the US Dollar on Monday in the two hours following Boris Johnson's surprise resignation as Foreign Secretary.

The move came less than 24 hours after David Davis, the Brexit Secretary, also resigned his position and means that eight MPs - six from the front bench - have resigned from Prime Minister Theresa May's cabinet in the last 12 months.

The latest IHS Markit/CIPS survey of the UK services sector has shown an increase in growth from 54.0 points in May to 55.1 in June.

The consistent strength of the US Dollar, boosted by the ongoing US/China/EU trade dispute, has decreased the value of platinum and the demand for the precious metal.

With asteroids constantly passing through our solar system containing millions, billions, and even trillions of tonnes of precious and rare earth metals, it’s only logical that investors and scientists are keen to get mining these bumper resources.

Such a feat would take billions of Dollars but the resulting accomplishment could both preserve our environment and make those backing the missions a substantial profit. The big question is: can we do it?

Sales figures from the US Mint have shown a marked increase in the sale of Platinum coins – specifically the Platinum American Eagle.

The Swiss government has decided to convert 700 million Swiss Francs worth of pension savings from paper securities – backed by the US Dollar – into physical gold bullion to be kept in Switzerland.