My recent articles published on the Sharps Pixley website. Click on titles to read in full
After a drop to below the 80 level, the GSR has risen back up to the mid-80s and while still well below its recent high is performing worse than we had earlier predicted. It may remain elevated for now but long term prospects remain positive.
The apparent reversal of Swiss gold flows with European consumers replacing Asian and Middle Eastern ones as primary recipients of Swiss re-refined gold has continued for yet another month
21 Nov 2019 – The gold price suffered last week on talk of perhaps a more full-on trade deal between the U.S. and China
The Russian central bank has announced it added 9.33 tonnes of gold to reserves in October bringing its total holding to just over 2,251 tonnes
Despite long-held claims from central banks that they only hold gold reserves for traditional reasons, they are collectively increasing their holdings which draws this claim into question.
Latest gold withdrawal data from the SGE for October are well down on previous years and suggest Chinese gold demand in 2019 could be down around 20% year on year. However gold ETF and Central Bank demand is compensating for the Chinese drop.
Latest figures from the People’s Bank of China suggest that there was no increase in the nation’s gold reserves in October after ten successive months of reported rises. However some observers feel Chinese gold reserves are hugely understated.
The latest Gold Demand Trends report from the WGC emphasises that continuing high gold ETF inflows and central bank buying are more than offsetting some weak data in more traditional gold demand markets
Gold in the past week has seen yet another wash, rinse, repeat cycle but has ended the week comfortably above the key $1,500 level despite what might have been seen as strong headwinds in the past,
Latest figures for Chinese gold imports for September show another poor month – below those for August, but the likely Chinese shortfall is being counterbalanced by increases in the holdings of gold ETFs and a continued high level of central bank gold…