April Gold News 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.

The gold price today edged closer to $1,800 following fresh fears over the dramatic rise in Covid-19 cases in India, as well as difficulty in containing some variants of the disease in Europe.

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.

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.

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.

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.