Gold prices inch higher as geopolitical tensions boost safe-haven demand
Post AMUGE
April 11, 2024
Business a.m. Gold prices climbed on Thursday, bouncing back from a selloff the previous day.The safe-haven metal benefited from geopolitical risks and tensions, with investors seeking shelter from the turbulence. Spot gold rose 0.6 per cent at $2,345.56 per ounce, while U.S. gold futures also gained 0.6 per cent to $2,362.80. The latest data on […]
deVere’s Green reveals 2 unsung heroes of gold’s record-high surge
Post AMUGEApril 4, 2024
Business a.m. Two key but often overlooked factors are driving the gold price higher: China’s consistent accumulation of the precious metal and the expectation of a reacceleration of inflation in the United States. While these factors may have gone under the radar, they are having a significant impact on the gold market, observed Nigel Green, […]
Gold climbs to record high on Fed rate cut speculation
Business a.m.December 3, 2023
Gold prices surged to a record high as Federal Reserve Chair Jerome Powell’s remarks increased traders’ optimism that the U.S. central bank would finish its monetary policy tightening cycle and potentially begin cutting interest rates as early as March. Spot gold prices gained 1.6 per cent to reach a high of $2,069.10 per ounce, as […]
Gold tumbles as stronger dollar hurts appetite for safe-haven
Onome AmugeMarch 19, 2022
BY ONOME AMUGE Gold futures plunged as the dollar strengthened against its rivals, hurting appetite for bullion for buyers overseas, while the safe-haven demand for the yellow metal spurred by Russia’s invasion of Ukraine lost momentum. As a result, gold plummeted for a second consecutive week to its biggest weekly decline in percentage terms, since […]
Global demand for gold rises 52% in Q1 2021
Online EditorApril 29, 2021
Onome Amuge Global consumer demand for gold jewellery surged 52 per cent year-on-year in the first quarter of 2021 amid a drop in bullion prices and global economic recoveries from the covid-19 pandemic, the World Gold Council said in its gold demand trends report published on Thursday. According to the report, consumers bought 477.4 tonnes […]
Gold prices record marginal gain over falling US dollar, treasury yields
Onome AmugeApril 19, 2021
Onome Amuge Gold futures settled higher on Monday to record a seven-week peak as a weakened dollar and softened U.S treasury yields raised the precious metal’s appeal but appetite for riskier assets remained strong, analysts report. Spot gold inched closer to the $1,790 level as it traded at $1,783.88 per ounce, its highest since February […]
Gold suffers more knocks as dollar, treasury yields strengthen
Onome AmugeMarch 31, 2021
Onome Amuge Gold, which has over the past few weeks lost clarity on direction, extended its losses on Tuesday as it stumbled to its lowest level since March 8. The sharp decline in the yellow metal occured after the US dollar and the US Treasury yields rose to their highest levels. The US Dollar Index […]
Gold plunges deeper amid spikes in dollar, US treasury yields
Online EditorMarch 8, 2021
Onome Amuge Gold prices continued a downward slide on Monday while the dollar and US treasury yields gained higher grounds, forcing investors to dump the non-yielding metal to focus on more attractive assets. Spot gold shed 1.2 per cent to $1,679.67 per ounce, its lowest since early June, U.S gold futures also stumbled 1.2 per […]
Gold heads for sixth weekly gain
Businessam StaffJuly 17, 2020
Silver heads for sixth straight weekly gain Gold rose on Friday and was headed for its sixth consecutive weekly gain as surging coronavirus cases fuelled demand for safe havens, reports Reuters news agency. Spot gold had climbed 0.5% to $1,805.43 per ounce before midday with U.S. gold futures also up 0.4% at $1,806.80, the agency […]
Illegal mining, smuggling cost Nigeria $3bn in seven years–Buhari
Businessam StaffJuly 17, 2020
President Muhammadu Buhari has revealed that Nigeria lost about $3 billion to smuggling and illegal mining of gold between 2012b 1nd 2018. A statement issued by Femi Adesina, his special adviser, media and publicity, the president stated this at the presentation of locally mined gold bars by the Presidential Artisanal Gold Mining Development Initiative in […]