This morning: Silver receives Gamestop treatment on Reddit February 1, 2021 Silver shines this morning as the metal is experiencing a rise in demand thanks to postings on Reddit, targeted in a similar fashion as Gamestop last week. What silver is going through this morning is the same rude awakening financial markets received last week when a swarm of retail investors, who were chatting with each [...]
Centamin revenue leaps by more than a quarter as gold production thrives in 2020 January 19, 2021 Centamin’s full year revenue has risen by more than a quarter as the gold production firm delivered a strong 2020 performance. Yearly revenue reached $829m, a 26 per cent increase from $658.1m in 2019. Production from the Sukari Gold Mine for the final three months of the year was almost 68,000 ounces, meeting guidance set [...]
Before the Bell: Equities and copper are on a roll January 8, 2021 Equity markets in Europe and the US enjoyed rallies yesterday as traders bought stocks on the back of the view that the future Biden administration will be keen to use stimulus packages to support the economy. In late December, lawmakers signed off on a $900bn relief package but in October, Nancy Pelosi, of the Democrats, [...]
Before the Bell: Bulls in control, calm restored to Capitol Hill January 7, 2021 The disturbance at Capitol Hill derailed the process of certifying the Biden electoral victory for a number of hours last night but was then resumed so the final confirmation of Biden’s win should be relatively straightforward. Moreover, the FTSE 100 had a stellar run yesterday as it closed up more than 3 per cent and [...]
Before the bell: Volatility remains low post-Thanksgiving November 27, 2020 It was a subdued session yesterday as the US celebrated Thanksgiving and in turn the US stock market was closed. Dealers in the rest of the world largely sat on their hands while their US-based counterparts enjoyed their turkey. It was a quiet day in terms of news flow and there was little appetite for [...]
Gold prices slump as Pfizer vaccine propels risk appetite November 9, 2020 Gold prices shed more than two per cent today as Pfizer’s announcement that its Covid-19 vaccine was 90 per cent effective in trials lured investor appetite away from safe haven assets. Spot gold slipped 2.2 per cent to $1,908.55 per ounce this afternoon, while US gold futures fell 2.3 per cent to $1,908.90, marking its [...]
Global stocks slip as coronavirus cases rise September 19, 2020 Stock markets around the world continued to stutter this week as an increase in Covid-19 cases in across Europe weighed on market sentiment. Wall Street saw early gains on Friday reverse and the S&P 500 and Nasdaq ended the session posting a third straight week of declines, led by this week’s Federal Reserve meeting and [...]
Gold hits record $1,980 high as dollar weakens July 28, 2020 Gold hurtled to record peaks today before the sheer scale of its gains drew a burst of profit taking, which in turn helped the dollar up from two-year lows. The precious metal had stormed almost $40 higher at one point to reach $1,980 an ounce XAU=, only for a wave of selling to slap it [...]
Gold stockpiles depleted as coronavirus increases demand March 23, 2020 Global stockpiles of gold bullion have been severely depleted by the coronavirus outbreak as investors rush to put money into the safe haven assets. According to the Financial Times, European producers have struggled to keep up with the heightened demand, which is reportedly running at around five times normal levels, due to factories being shuttered [...]
Follow the yellow brick road: the investment case for gold February 19, 2020 Investing can often feel like a rollercoaster, with the value of stock investments rising and falling sharply based on breaking news and geopolitical events. Certainly, the last few months may have felt bumpy. From the build-up to the UK General Election in December, to the tit-for-tat missile volleys between the US and Iran, to the outbreak [...]