India is again trying to cut gold demand by hiking duties charged on imports.
Articles Tagged "gold supply"
Business Insider reported that mine strikes taking place in South Africa are having an impact on gold supply.
Bloomberg reported that Kazakhstan will exercise its 'priority right' to secure domestic gold supplies.
Reuters reported that Yukon-Nevada gold (TSE:YNG) has agreed to supply gold to Deutsche Bank over a period of 48 months.
While it’s not what many gold investors want to hear, there is a growing chorus of consensus that gold is not trading off fundamentals and that in fact the recent price rally is merely momentum driven.
Some analysts have pointed out that gold has few end users and a healthy above-ground supply, so why has it shown so much price strength in the last few years?
Three news stories moving gold prices this week include the World Gold Council’s recent report, rumors China would sell its euro zone debt holdings, and of all things, the stand-off in the Korean Peninsula.
GFMS Group’s well-respected annual Gold Survey report is out for 2010, but what’s got most in the precious metal markets talking is the comments made by Philip Klapwijk, chairman of precious metals research at GFMS, during an interview with Reuters: “There are pointers to the fact that we are entering the final stages of a bull market.”
Will gold ever be able to decouple from the dollar like it almost seemed to do earlier this year, or has its status as safe haven asset irrevocably shifted to the risk-asset class? Time will tell.