BullionVault, the claimed world’s largest online marketplace for physical precious metals, has said that volumes of gold traded are down 31.5% in October on the average over the previous 12 months, amid data from Google Trends showing that the number of internet searches for ‘buy Bitcoin’ have overtaken ‘buy gold’ – having overtaken ‘buy silver’ […]
Gold ETPs recorded net inflows of $116m following more disappointing US economic data. Although the Fed chairwoman said at the Jackson Hole Symposium that the case for a rate hike has strengthened recently, weaker-than-expected jobs and services sector data provided more reasons for the Fed to not increase interest rates at its meeting on September […]
Following Friday’s somewhat weaker-than-expected US labour marker report, silver rallied strongly. Prices were up almost 3%, closing at $19.4 per ounce. Unlike other markets, silver did not give back its gains after the US dollar recovered and US Treasury yields rebounded. Also taking into consideration unchanged market-based probabilities for an interest hike in the United […]
Old Mutual Global Investors (OMGI) is set to launch the Old Mutual Gold & Silver fund in March 2016, subject to regulatory approval. The fund, which will be a sub-fund of the Dublin domiciled Old Mutual Global Investors Series Plc, will be managed by Ned Naylor-Leyland, who joined OMGI from Quilter Cheviot in September 2015. Naylor-Leyland will […]
FMG, the frontier and emerging market specialist manager, has said that changes announced to the country’s mining industry through the second quarter of 2015 have teed up Mongolia for a recovery in foreign direct investment. The changes announced apply to the Oyu Tolgoi (OT) mine, and an agreement put in place between the country’s government, […]
Randgold Resources (RRS) and Fresnillo (FRES) are both top of the FTSE100 this morning, helped by a slightly more dovish Fed update than expected last night (cautiously hawkish?) which served to weaken the dollar to the benefit of the precious metals and their miners. The US central bank last night maintained that its first rate […]
Ross Norman, CEO of Sharps Pixley, the London based bullion broker that is part of the Degussa Goldhandel group, has said that gold is set to average $1,321 through 2015 as factors revive demand for the physical metal. According to the broker’s forecast, prices will vary from a low of $,1170 to a high of […]
The 117 year old silver fix based in London has been replaced by an all electronic auctioning system intended to provide greater transparency and pricing efficiency of one of the most traded metals. Silver, along with gold, has adopted a unique pricing structure over the past century in that all transactions have involved a single […]
CME Group and Thomson Reuters will provide a London Silver Fix solution starting from 15 August, which will replace the previous fix system in place for over a century. The new solution will take over a process of daily silver price fixing that started in 1897. CME is set to provide an over the counter […]
The London Silver Market Fixing Limited, the company responsible for the daily fixing of the price of silver in London, is to cease administering the fix as of 14 August.
Volatility in the gold price in recent days may have been caused by a number of factors, but analysis of the reasons for its rise in the first place point to a return to stabilisation in the market.
Steven Feldman, a former Goldman Sachs partner, has been appointed CEO of precious metal provider to wealth managers Gold Bullion International (GBI), with Eric Schwartz joining as chairman.