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gold market

Asian gold demand rebounding as Swiss exports to India surge
Markets

Asian gold demand rebounding as Swiss exports to India surge

  • Switzerland is the world's biggest gold refining centre and transit hub, while India and China are the two biggest gold consumers and Thailand is a regional trade hub.
  • One reason for the pick-up is a steady decline in gold prices from record highs last August. Most gold in Asia is sold as jewellery and buyers are put off by high prices.
Published 18 Mar, 2021 05:13pm
Asia Gold-More takers as prices dip, Indian premiums rise
Markets

Asia Gold-More takers as prices dip, Indian premiums rise

  • Chinese premiums rise to $8-$10/oz.
  • Higher buying activity in China, Singapore, Japan.
  • Dealers charged premiums of $6 an ounce over official domestic prices, inclusive of 12.5% import and 3% sales taxes, compared with last week's premium of $5.
Published 12 Mar, 2021 05:45pm
Gold under pressure as US yields, dollar firm
Markets

Gold under pressure as US yields, dollar firm

  • European Central Bank policy meeting due on Thursday.
  • More platinum deficits loom after record 2020 undersupply – WPIC.
  • Platinum prices likely to reach $1,300/oz over 12 months – UBS.
Published 10 Mar, 2021 05:25pm
China's Shandong Yulong Gold to buy Australia's Barto for $188mn in debt
Business & Finance

China's Shandong Yulong Gold to buy Australia's Barto for $188mn in debt

  • Shandong Yulong Gold, which used to make steel pipes before changing its name and business focus, said in a statement to the Shanghai Stock Exchange its Lanjing Mining subsidiary would acquire 100% of Barto and control its gold mining operations in Western Australia.
  • Barto's operations, in the Southern Cross greenstone belt, are currently managed on behalf of Shandong Tianye by West Perth-based explorer Minjar Gold.
Published 05 Mar, 2021 08:49pm
China's gold imports via Hong Kong fall in January on COVID-19 travel curbs
Markets

China's gold imports via Hong Kong fall in January on COVID-19 travel curbs

  • Gold prices in the top consumer of the metal, flipped back into a discount - a situation that prevailed for most of 2020 as the pandemic curbed demand - in the week to Jan. 29.
  • Net gold imports via Hong Kong to China stood at 4.2 tonnes in January compared with 5.6 tonnes in December, while they were down 55% on an annual basis.
Published 25 Feb, 2021 06:35pm
Newmont quarterly profit doubles as gold prices shine
Business & Finance

Newmont quarterly profit doubles as gold prices shine

  • he miner said averaged realized gold price jumped 25% to $1,852 per ounce in the quarter, while attributable gold production fell about 11% to 1.6 million ounces.
  • The company cited the sale of Red Lake and Kalgoorlie, and lower production at Cerro Negro for the drop in production.
Published 18 Feb, 2021 06:13pm