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Key Gold Headlines

POSTED ON February 6, 2023  - POSTED IN Key Gold Headlines

Central banks closed out 2022 with reported net purchases of 28 tons of gold in December. Including large unreported purchases, this brought total central bank gold buying in 2022 to 1,136 tons. It was the second-highest level of net purchases on record dating back to 1950, and the 13th straight year of net central bank gold purchases.

POSTED ON January 31, 2023  - POSTED IN Key Gold Headlines

Gold demand grew by 18% to 4,741 tons in 2022, the highest demand in 11 years, according to data compiled by the World Gold Council.

Massive central bank purchases coupled with strong retail investor buying and slowing outflows from ETFs drove overall demand higher.

POSTED ON January 24, 2023  - POSTED IN Key Gold Headlines

India’s love for gold is well-known. It is the second largest gold-consuming country in the world behind China. But Indians also have an affinity for silver.

Last year, silver imports into India hit a new record of  304 million ounces. That crushed the previous import high of 260 million ounces set in 2015.

POSTED ON January 24, 2023  - POSTED IN Key Gold Headlines

The US economy runs on money printing and artificially low interest rates. Nowhere is that more obvious than in the housing market.

With aggressive rate hikes in its war against price inflation, the Federal Reserve pricked the housing bubble and air continues to seep out. Existing home sales fall for the 11th straight month in December — the longest streak of declines in history.

POSTED ON January 18, 2023  - POSTED IN Key Gold Headlines

Gold posted a small gain in 2022, and it was one of the best-performing assets of the year. Nevertheless, there is still a perception in the mainstream that gold is dead. But that perception may be changing. In a recent note, Bank of America commodity strategist Michael Widmer said gold will be a “mainstay” in portfolios over the next several years.

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