Gold news - November gold news 2021

Singapore's central bank has added 26 tonnes of physical gold to the nation's reserves back in June, but strangely the International Monetary Fund (IMF) has only disclosed the information as of last Thursday.

Following strong gains last week, gold and silver prices have fallen back this week. The US dollar has been boosted by America's decision to release 50 million barrels of oil from its reserves, as well as by a reduction in unemployment stateside.

Office for National Statistics (ONS) data released today shows another increase in UK inflation, now up to 4.2% as of October from 3.1% in September, with the pound making gains against a basket of major currencies as a result.

Pound at 2021 low, economic growth slower than expected

11 Nov 2021, 11:15 a.m.

Liam Sheasby

Sterling today hit a new low for the year following the latest GDP figures from the Office for National Statistics. The pound hit $1.337, and has only risen fractionally since to $1.339.

The past 10 days have been a perfect storm of troubles for the pound. Last week the Bank of England decided not to raise interest rates, the US reported a jolt in inflation yesterday, and now the poor GDP figures.

November Gold News 2021

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