Latest News for: Gold reserves

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What is going on with gold?

Financial Express 07 Dec 2023
Interestingly, China has a very low share of gold in its reserves (3.84% in Q2 2023)—indeed, the lowest of the top 20 central bank gold holders. Many countries with freely convertible currencies—the US, EU countries—have a huge (more than 60%) share of gold in their reserves; this ...
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Gold Prices Forecast: XAU/USD Showing Some Stability Ahead of US Payrolls Data

FX Empire 07 Dec 2023
Market Movements in Gold Trading ... These developments have raised market expectations of upcoming Federal Reserve rate cuts, a scenario typically supportive of gold prices ... Fed Policy’s Impact on Gold. Recent dovish comments from Federal Reserve officials and a 60% market expectation of a rate cut by March next year are influencing gold markets.
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Gold to Take Hit if US Economy Has Soft Landing, But Risks Remain, WGC Says

Market Watch 07 Dec 2023
Gold prices are likely to take a hit if the U.S. economy achieves a so-called soft landing in 2024 and avoids a recession, despite rising inflation and interest rates this year, according to the World Gold Council ... However, gold will likely rise when the Federal Reserve cuts interest rates, he said ... economic outlook is to gold," Reade said.
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Gold hardly changed as traders await US nonfarm payrolls

Business Day 07 Dec 2023
BengaluruGold prices were flat on Thursday as investors held back from making big bets ahead of a crucial US payrolls data later this week that could offer more clues on the Federal Reserve’s interest rate trajectory. Spot gold held its ground at $2,025.69/oz by 5.16am GMT. US gold futures fell 0.3% to $2,042.50.
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Gold ETF Redemptions Slow, Central Bank Buying Strong

Invezz 07 Dec 2023
Gold made a big splash in the news this week, having broken through the $2,100 (~£1,672.3) per ounce mark, and peaking at an all-time high of $2,152.30 ... In a report from 5th December which analysed gold buying by central banks, the WGC noted that October reserves increased by 42 tonnes.
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Gold’s fickleness makes it Bitcoin for boomers: Marcus Ashworth

Financial Express 07 Dec 2023
Blink and you missed it, but on Sunday night and into the early hours of Monday gold reached a record of more than $2,135 a troy ounce — and promptly fell back. Gold is now about 6% lower than that fleeting zenith and essentially unchanged from where it was a week ago ... Furthermore, gold no longer reacts consistently to geopolitical crises.
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Gold prices are flat as investors await US jobs for more Fed cues

Bahrain News Agency 07 Dec 2023
Gold prices ... Spot gold held its ground at $2,025.69 per ounce by 0516 GMT.
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Elections could see gold extend gains in 2024

The Daily Telegraph Australia 07 Dec 2023
The World Gold Council forecasts a stable market for gold in the year ahead as hopes rise that the Federal Reserve will look to cut interest rates in the US amid improving chances of a soft landing in the economy ....
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Some ideas on transforming the nature of the Malaysian economy

Malaysia Today 07 Dec 2023
In addition, structural changes are necessary to keep the Malaysian economy relevant to trade in the future ... Increase gold reserves. Malaysia’s gold reserves have remains very stable at around 30 MT ... Increased domestic gold production could boost Malaysia’s gold reserves, where there is is predicted turbulence in the USD as a major trading currency ... .
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Turkish Central Bank reserves rise to all-time high of $140.1B

Anadolu Agency 07 Dec 2023
... increase of $2.24 billion over the same period, while gold reserves totaled $46.92 billion, up $1.4 billion.
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Egypt's Net International Reserves record $35.173B in November: CBE

Egypt Today 07 Dec 2023
Egypt's Net International Reserves (NIR) witnessed an increase of $72 million, to record $35.173 billion, according to data released by the Central Bank of Egypt (CBE) ... These reserves encompass foreign exchange, gold, and other international currencies.
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Egypt's net int'l reserves record $35.173B in November: CBE

Egypt Today 07 Dec 2023
Egypt's Net International Reserves (NIR) witnessed an increase of $72 million, to record $35.173 billion, according to data released by the Central Bank of Egypt (CBE) ... These reserves encompass foreign exchange, gold, and other international currencies.
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RBI imposes monetary penalty on four co-operative banks, cancels licence of another. Details here

Live Mint 07 Dec 2023
... limit under bullet repayment scheme.The Reserve Bank imposed a monetary penalty of ₹1.00 lakh on Patan Co-operative Bank Limited, Mumbai, Maharashtra for non-compliance with directions issued by RBI on ‘Reserve Bank of India –Know Your Customer (KYC) Direction, 2016’.
photo: AP / Ariana Cubillos
Venezuelan lawmaker Diosdado Cabello holds the new map of Venezuela with the Essequibo territory, a large swath of land that is administered and controlled by Guyana but claimed by Venezuela, during a session at the National Assembly in Caracas, Venezuela, Wednesday, Dec. 6, 2023.
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US throws weight behind Guyana in territorial dispute with Venezuela

Al Jazeera 07 Dec 2023
The area is located in the heart of the Guiana Shield, a geographical region in the northeast of South America and one of the four last pristine tropical forests in the world mined with natural and mineral resources, including large reserves of gold, copper, diamond, iron and aluminium among others.
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A good alternative: Why you should Invest in gold via a structured route

Live Mint 06 Dec 2023
Gold has thrived during major rate-cutting cycles by the Federal Reserve in this millennium ... The recent two rate cuts done by the Federal Reserve during the 2008 crisis and covid-19 pandemic ... This can even be seen in central banks worldwide bolstering their gold reserves recently.

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resident of Russia Vladimir Putin during a meeting with Minister of Science and Higher Education Valery Falkov
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