Gold demand to hit record with central bank buying, WGC says
Total gold demand hit a record last year and is expected to expand again in 2024 as the US Federal Reserve moves toward cutting interest rates, potentially aiding prices, according to the World Gold Council.
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Iron ore price drops as China central bank’s rate move defies expectation
Iron ore futures prices dropped for a second consecutive session on Monday as top consumer China defied market expectations and stood pat on its medium-term interest rate, leaving traders disappointed.
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One big gold seller among central banks has even more to offload
Mining News Pro - In a turnaround that’s already taken it from one of the world’s biggest gold buyers to a top seller this year, Kazakhstan’s central bank is looking to cut the metal’s share to as low as half of its $34.5 billion reserves
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Gold price firms with spotlight on central bank meetings
Mining News Pro - Gold prices bounced back on Tuesday on a weaker dollar and expectations that the US Federal Reserve will likely end its monetary tightening cycle after a widely expected rate hike this week.
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Visit: 147
Reduced appetite from central banks to bring gold demand down in 2023
Mining News Pro - Demand for gold will drop 9% to 4,375 metric tons this year with central banks’ appetite falling from last year’s all-time high, consultancy Metals Focus said, adding that gold prices would be under pressure in the second half of 2023.
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Mystery whales baffle gold market after central bank purchases
Mining News Pro - A normally dry research report jolted the gold market this week, when it pointed to massive but so far unidentified sovereign buyers.
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Visit: 397
Brazil central bank recruited to save Amazon from illegal mining
Mining News Pro - The threat to the Brazilian Amazon posed by illegal mining is so big that the formal mining industry is trying to get the country’s central bank involved.
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Gold price recovers as European Central Bank raises rates higher than expected
Mining News Pro - Gold prices regained ground after falling to the lowest level in 15 months as the European Central Bank took some investors by surprise and raised rates by 50 basis points on Thursday.
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Visit: 451
Gold price bound for worst quarter in five, pressured by central banks’ hawkish rhetoric
Mining News Pro - Gold experienced a relatively larger decline on Thursday following a string of sluggish sessions this week, and is now headed for its worst quarter in five as the hawkish tone from global central banks continues to dim the metal’s appeal.
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Visit: 530
Iron ore price down ahead of China’s central bank rate announcement
Mining News Pro - Iron ore prices fell on Tuesday as fresh covid-19 outbreaks in China clouded demand prospects in the world’s top steel producer.
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Visit: 674
Central banks to increase gold holdings over crisis concerns
Mining News Pro - Central banks see gold as a reserve asset and will likely increase their holdings of the metal in the next twelve months, according to a survey by the World Gold Council.
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Visit: 725
Gold reserves at Venezuelan central bank down to new 50-year low
Mining News Pro - The Venezuelan central bank’s gold reserves dropped seven tonnes last year to a new 50-year low, according to financial statements published by the bank on Tuesday.
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Visit: 448
Peru central bank warns against anti-mining protests damage
Mining News Pro - A rising wave of anti-mining protest in Peru, which has paralyzed several operations in the world’s second-largest copper producing country over the last few months is already affecting investors’ perceptions, authorities warned Tuesday.
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Visit: 438
Gold regains shine after central bank buying drops to decade low
Mining News Pro - Central banks may be regaining their appetite for buying gold after staying on the sidelines for the past year.
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Visit: 471
The mother of all gold opportunities as central banks walk the line
Mining News Pro - Envision if you will a man with a bright red face … at first glance you might think he is in excellent health, glowing even … and on the other hand, it might suggest he has a fever … two completely opposite interpretations from the same facts … so to decide, you fall back on context. The same might be said of financial markets. Inflation can signal a robust economy or it could also signal trouble. The same might be said of bond yields.
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Visit: 641
Zimbabwe central bank to form new gold refining unit, sell shares to miners
Mining News Pro - Zimbabwe`s central bank will unbundle its gold refining and printing unit into two separate companies and sell a majority stake in the new gold refinery business to miners, governor John Mangudya said on Wednesday.
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Visit: 1137
Gold-buying by central banks seen climbing from near decade low
Mining News Pro - Gold buying by central banks, an important driver of bullion’s advance in recent years, is forecast to pick up in 2021 after a slowdown this year.
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Visit: 1155
Russian central bank seeks to reverse diamond deal
Mining News Pro - Russia’s central bank said on Monday it was seeking to reverse a $1.45 billion deal between Lukoil and Otkritie Holding as part of efforts to recover some state money spent on a bailout of Otkritie bank.
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Visit: 725
Central banks indicate they will continue to buy gold, some more than usual
Mining News Pro - The World Gold Council (WGC) in its latest `Central Bank Gold Reserves (CBGR)` survey highlights several notable shifts in central bank attitudes towards gold this year.
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Visit: 1272
Russian central bank turns attention to banks hit by slower gold exports
Mining News Pro - Russia’s central bank is considering how to help the country’s commercial banks with gold storage after complications with bullion exports because of the coronavirus crisis.
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Visit: 1383
Central bank gold purchases decline 52% y/y in February
Mining News Pro - The latest data from the World Gold Council (WGC) shows that central banks’ monthly net gold purchases increased in both January and February, following December’s five-month low.
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Visit: 1173
Central banks search for answers to virus impact
Mining News Pro - Global central bankers enter a new week under fresh pressure to outline the next steps in their battle to address the impact of the coronavirus outbreak.
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Visit: 1106
Central banks just love gold and it’s going to stay that way
Mining News Pro - A major gold-buying spree by central banks is likely to persist in the coming years, according to Australia & New Zealand Banking Group Ltd., which flagged the potential for further purchases by nations including China.
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Visit: 1357
Europe’s central banks ditch 20-year-old gold sales agreement
Mining News Pro - European central banks have ditched a 20-year-old agreement to coordinate their gold sales, saying they have no plans to sell large amounts of the metal, the European Central Bank (ECB) said on Friday.
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Visit: 1999
IMIDRO’s CEO: Bilateral Cooperation Between Central Bank of Iran
Mining News Pro - Khodadad Gharibpour said in Kish Steel Symposium that bilateral cooperation has shaped between the production unit and Central Bank of Iran.
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Visit: 1846