UK gold coin sales jump on concerns over Labour's fiscal plans
Submitted by admin on Thu, 2024-07-18 22:37 Section: Daily DispatchesBy Jack Wittels
Bloomberg News
Thursday, July 18, 2024
Sales of tax-exempt gold coins by the UK's Royal Mint jumped in the last quarter as investors fretted about potential changes to fiscal policy by an expected new Labour government.
The total value of gold coins that don’t attract capital gains sold on the Mint's website jumped by 9% during April-June from a year earlier, according to Stuart O’Reilly, market insight manager at the money producer.
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Why younger investors are drawn to gold
Submitted by admin on Thu, 2024-07-18 18:47 Section: Daily DispatchesBy Chris Taylor
Reuters
Thursday, July 18, 2024
NEW YORK -- What asset class do millennials and Gen Z investors both want to own?
Here is an answer you may not have guessed: Gold.
Among wealthy investors under the age of 43, 45% own gold as a physical asset, and another 45% are interested in holding it, according to a recent study by Bank of America Private Bank.
Those are far higher percentages than other age groups.
Gold jumps to record as traders increase bets on Fed rate pivot
Submitted by admin on Tue, 2024-07-16 15:29 Section: Daily DispatchesHow mistaken and tiresome is the assertion below that gold "bears no interest." Neither do government currencies, unless they are lent. Just like government currencies, gold pays interest when it is lent. So does silver.
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By Jack Wittels, Mark Burton, and Nick Bartlett
Bloomberg News
Tuesday, July 16, 2024
Gold hit a record high today as hopes for U.S. Federal Reserve rate cuts grow and some traders ramped up bets on a second Donald Trump presidency.
LBMA, World Gold Council urge BIS to list gold as 'high-quality liquid asset' under Basel III
Submitted by admin on Sat, 2024-07-13 13:11 Section: Daily DispatchesMaybe even the BIS considers gold to be the future of money as well as its past.
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From Solitaire
Gem & Jewellery Export Promotion Council, Mumbai
Thursday, July 11, 2024
Last week delegates from the London Bullion Market Association, including Paul Fisher, Ruth Crowell, David Gornall, and Edel Tully, joined Mike Oswin of the World Gold Council in Basel for a meeting with the Bank for International Settlements.
Uganda joins growing number of African countries turning to gold
Submitted by admin on Fri, 2024-07-12 20:11 Section: Daily DispatchesBy Mike Maharrey
Money Metals News Service, Eagle, Idaho
Friday, July 12, 2024
Uganda has joined the growing number of African countries turning to gold to support their currencies.
The Ugandan central bank has announced a domestic gold-buying program to buy gold directly from local artisanal miners.
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Guanajuato Silver Is Reactivating Silver and Gold Mines in Mexico
China uses Shanghai futures to drain Western gold, Maguire tells LFTV
Submitted by admin on Fri, 2024-07-12 13:28 Section: Daily Dispatches1:23p ET Friday, July 12, 2024
Dear Friend of GATA and Gold:
London metals trader Andrew Maguire uses this week's "Live from the Vault" program from Kinesis Money to describe how he sees China using derivatives on the Shanghai Futures Exchange to extract gold from Western markets and hedge itself against what it expects will be more U.S. economic sanctions under a Trump administration.
