precious metals Archives

LOCKDOWN easing plans boost risk appetite

Gold fell nearly 1 per cent on Tuesday as LockDown easing plans boost risk appetite by some countries easing coronavirus-induced restrictions, although recession fears and hopes for more stimulus kept the bullion near the $1,700 level.

Spot gold eased 0.7 per cent to $1,702.00 per ounce by 0701 GMT, after falling as much as 1.4 per cent during the session. US gold futures fell 0.4 per cent to $1,716.20 per ounce.

Some countries, including Italy and New Zealand, announced an easing of lockdowns and more parts of the United States looked set to restart business.

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surezh Gold max

April 28, 2020

GOLD PRICES ROSE 0.3%

Gold prices rose on Wednesday, after surging more than 3 per cent in the previous session.

As the US Federal Reserve cut interest rates to help soften the economic blow from the coronavirus outbreak.

FUNDAMENTALS

Spot gold climbed 0.3 per cent to $1,644.97 an ounce by 0052 GMT.

Having registered its biggest one-day percentage gain since 2016 gold prices in the previous session

G7 finance ministers and central bank governors said on Tuesday :

They would use all appropriate policy tools to achieve strong, sustainable growth and safeguard against risks from the virus, which has fuelled global recession fears.

The World Health Organization warned

Of a global shortage and price gouging for protective equipment to fight the epidemic and asked companies and governments to increase production by 40 per cent as the death toll mounted.

Palladium slipped 0.4 per cent to $2,490.62 per ounce, while platinum was up 0.1 per cent at $875.62.

Silver rose 0.3 per cent to $17.22 an ounce.

Demand for platinum from the auto industry will rise this year for the first time since 2016

But it won’t be enough to offset a decline in investment buying, leaving the global market in surplus again, the World Platinum Investment Council said.

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surezh Gold max

March 4, 2020

7-year high on profit-taking GOLD PRICES -FALLS

Gold prices fell 1 per cent on Tuesday as investors chose to pocket profits after the metal hit a seven-year high in the previous session, although growing fears over a spike in new coronavirus cases outside of China capped bullion’s losses.

FUNDAMENTALS

Spot gold was down 0.7 per cent to $1,649.49 per ounce by 0132 GMT, having touched a session low of $1,642.89.

ASIA MARKET

ASIAN shares extended losses amid fears the virus was rapidly mutating into a pandemic that could cripple global supply chains and wreak far greater economic damage than first thought.

CORONA VIRUS

The death toll climbed to seven in Italy on Monday and authorities sealed off the worst-affected towns, closed schools and halted the carnival in Venice, where there were two cases, while several Middle East countries were dealing with their first infections.

FINANCIAL MARKET

Financial markets on Monday ratcheted up bets the US Federal Reserve will be pressed to cut interest rates to cushion a feared hit to economic growth from the epidemic.

PROFIT TAKING

Bullion rose to a more than seven-year high of $1,688.66 in the previous session.

US gold futures fell 1.5 per cent to $1,651 an ounce.

The 1 per cent fall of Gold prices was because of margin calls but definitely that has triggered an added wave of profit-taking

surezh Gold max

February 25, 2020

RHODIUM OUTPERFORMS BITCOIN With 220% Gains

BITCOIN/RHODIUM

Everyone’s always comparing Bitcoin to gold. However, other precious metals rhodium have shown significant promise due to their rarity and how costly they are to find.

MYSTERIOUS METAL RHODIUM

Rhodium is one standout that has seen incredible price movement this past year and exceeded all expectations. It’s even left Bitcoin in the dust. The precious metal was trading at around $2,500 per oz. at the beginning of 2019 and has since surged to around $8,000. That’s a shocking gain of around 220% for just the year alone. Bitcoin, on the other hand, had more modest returns by comparison. The leading cryptocurrency rose from around $3,800 to $7,200 in 2019, a return of about 89% or so.

OUTPERFORMING

In the past four years, rhodium has broken all expectations. The metal has risen 12-fold in the past four years, outperforming all major commodities and currently even Bitcoin. This is due to its high demand in the automobile sector and its rarity which leads to wild volatility. Rhodium is used for electrical contacts and catalytic converters in cars. It can also be used in nuclear reactors to measure neutron flux levels.

DEMAND RHODIUM

Rhodium, however, is difficult to come by to acquire and trade. The precious metal’s demand will likely continue to grow, but supply is struggling to keep up. Global production is currently at around a 10th of platinum or palladium, according to Bloomberg. South Africa currently accounts for more than 80% of global output which has led to a massive mining boom in the country.Still, rhodium looks to have bested Bitcoin in 2019 despite the fact that most investors have never even heard of it.

PRICE RALLY

It’s unclear whether the precious metal can continue this price rally, but it might be time for Bitcoin fans to start keeping an eye on this sought-after commodity. It may have more room to shine as automobiles look for more efficient exhaust emission controls.

courtesy:beincrypto

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surezh Gold max

January 16, 2020

Category: precious metals

LOCKDOWN easing plans boost risk appetite

GOLD PRICES ROSE 0.3%

7-year high on profit-taking GOLD PRICES -FALLS

RHODIUM OUTPERFORMS BITCOIN With 220% Gains

BITCOIN/RHODIUM