LONDON Demand for gold from jewellers and central banks will remain sharply lower in 2021 than before coronavirus, but investors will keep prices high by stockpiling record amounts of bullion, Refinitiv Metals Research said.
BENGALURU/LONDON Rising auto production as vehicle makers tentatively recover from the coronavirus shock will lift prices of platinum and palladium, but both metals used in vehicle exhausts will struggle to score significant gains, a Reuters poll showed.
LONDON Switzerland's gold exports to China and India dwindled in September, with the country instead importing record volumes of bullion from Hong Kong and sending metal to Britain, customs data showed on Tuesday.
LONDON, Oct 12 Copper touched a three-week high
on Monday as demand from top consumer China and the threat of
strikes by miners in Chile pushed prices closer to 27-month
highs reached in September, though a strengthening yuan limited
LONDON Banks are making huge profits from gold as investors flood into a market fractured by the coronavirus crisis.
LONDON Swiss exports of gold to the United States all but halted in August while shipments to China and India rose, customs data showed on Thursday, suggesting a big transfer of bullion to New York that followed the coronavirus outbreak has run its course.
By Peter Hobson
LONDON, Sept 17 Swiss exports of gold to the
United States all but halted in August while shipments to China
and India rose, customs data showed on Thursday, suggesting a
big transfer of bullion to New York that followed the
cororonavirus outbreak has run its course.
The pandemic upended the global gold trade, shutting the
vast consumer markets of Asia while triggering a rush among
western investors to buy what they consider a safe financial
Prices of U.S. gold futures surged above prices in other
parts of the world, incentivising an unprecedented transfer of
gold bars to New York.
Switzerland, the world's biggest gold refining and transit
centre, shipped 412.9 tonnes of gold worth $22 billion to the
United States between March and July but just 23.7 tonnes to
China, Hong Kong and India combined, Swiss customs data shows.
In August, however, U.S. shipments fell to 28.5 tonnes and
were almost offset by 26.8 tonnes of gold coming into
Switzerland from the United States.
Meanwhile, Switzerland exported 20.2 tonnes to India, the
most since May 2019, and sent 10 tonnes to China, the first
shipment since February.
But in a sign that Asian demand remains weak, Switzerland
shipped no gold to Hong Kong in August and instead received 25.4
tonnes from the city.
Swiss exports to Turkey, where a devaluing lira has spurred
a surge of gold investment, were at 16.2 tonnes in August, the
highest since July 2017, according to the customs data.
In total, Switzerland exported 116.5 tonnes of gold in
August, up from 102.6 tonnes in July.
Following are the numbers for August 2020 and comparisons.
SWISS TRADE DATA (KG)
DESTINATION OF SWISS GOLD EXPORTS (KG)
To China To Hong Kong To India To the U.S.
Aug-20 10,000 0 20,163 28,496
Jul-20 0 59 14,900 63,197
Aug-19 25,282 3,147 5,868 2,406
* Source: Swiss trade data. Data subject to revision by
(Reporting by Peter Hobson. Editing by Jane Merriman)
LONDON, Sept 4 Copper prices rose on Friday as
expectations of strong demand in top consumer China were
reinforced by historically low inventories of the metal in the
London Metal Exchange (LME) registered warehouses.
LONDON One of the world's largest gold-backed exchange traded funds (ETFs), run by asset manager Invesco, has cut the fee it charges investors to compete better with lower cost funds that are increasing their share of the market.
The London Bullion Market Association (LBMA) said on Friday it would continue to accredit the Perth Mint after an investigation into allegations that it processed unethically sourced gold found no significant wrongdoing.