- The gold market continues to see significant selling pressure as investors capitulate to the idea that the Federal Reserve will maintain its restrictive monetary policy longer than expected.The gold market is testing critical support just above $2,300 an ounce and is down more than 2% on the first day of the Federal Reserve's monetary policy meeting. Gold has lost nearly 6% after hitting a record high above $2,448 an ounce three weeks ago.
– China’s massive and sustained central bank gold purchases are raising fears that the country may not only be shoring up its currency but may also be laying the economic groundwork for a full-scale invasion of Taiwan, according to a Telegraph report published Tuesday. - Gold and silver prices are sharply lower and near their daily lows in midday U.S. trading Tuesday. Gold hit a three-week low and silver a four-week low.Bank of Korea chooses U.S.
Choi Wan-ho, head of the management planning team at the Bank of Korea's foreign capital management agency, published an article on the BOK's blog on April 30 in which he explained the reasoning behind the central bank’s reticence to buy gold.Bank of Korea chooses U.S.
Australia is set to approve a new wave of spot Bitcoin ETFs for trading on ASX by the end of 2024 while the debut of BTC and Ether ETFs in Hong Kong was met with a muted response. - The gold market is not able to attract a safe-haven bid, with prices hovering near session lows even as consumer optimism continues to fade, raising the risk of slower economic activity.Tuesday, the U.S.
- The gold market saw its best start to the year since 2016 as robust Asian demand and record central bank purchases dominate the marketplace, according to the latest report from the World Gold Council.Tuesday, the WGC released its first quarter Gold Demand Trends report, saying that, including Over-the-Counter purchases, global physical gold demand rose to 1,238 tonnes, an increase of 3% from the first quarter of 2023.