Category: gold market

  • China’s Unreported Gold Reserves: A Hoard 10 Times Larger Than Publicly Stated

    Reading Time: 2 minutes China is quietly accumulating gold reserves at a scale ten times larger than officially reported, revealing a clandestine effort by Beijing to amass substantial holdings. Dominic Frisby asserts that China’s secretive gold hoarding is driven by motives that extend beyond what is publicly disclosed. In spite of China being the world’s…

  • BlackRock CEO Draws Parallels: Bitcoin, Akin to Gold Over Millennia, Serves as a Protective Asset.

    Reading Time: 2 minutes In a recent interview, the BlackRock CEO discussed the significant shift in the company’s stance towards Bitcoin, acknowledging its transformation into a recognized asset class. The conversation revolved around the approval of the Bitcoin ETF by the SEC and its impact on BlackRock’s strategy. Two years ago, the CEO revealed a…

  • Egypt Introduces Novel Gold ATM, Expanding Accessibility to Bullion Bars

    Reading Time: 2 minutes Short Summary: Egypt is pioneering a revolutionary approach to gold accessibility, launching its inaugural automated teller machine (ATM) to provide citizens with direct access to gold bullion bars. Collaborating with Banque Misr and local e-payment technology firm Finway, this innovative initiative seeks to redefine the accessibility of gold for the public.…

  • Central Banks’ Ongoing Pursuit for Gold: November’s Global Transactions

    Reading Time: 2 minutes Central banks around the world maintained their steady acquisition of gold in November, adding another 44 tons to their reserves, as per the latest data compiled by the World Gold Council (WGC). Turkey emerged as the largest buyer for the month, significantly boosting its reserves by 25 tons. This resurgence follows…

  • Impact of U.S. Jobs Data on gold Market.

    Reading Time: 2 minutes Three Key Points: In summary, the market’s reaction to the U.S. jobs report demonstrated a complex interplay of initial optimism, subsequent scrutiny, and nuanced interpretations. The mixed nature of the report, coupled with strong economic indicators, suggests a nuanced landscape ahead. Investors brace for potential shifts in the dollar’s trajectory and…

  • Saudi Arabia Unveils Major Gold Discoveries, Aims for Mining Expansion.

    Reading Time: 2 minutes Saudi Arabia recently unveiled a substantial gold find within the Kingdom, located around 100 kilometers south of the operational Mansourah Massarah gold mine in Al Khurmah governorate, Makkah region. The Saudi Arabian Mining Company (Maaden) reported multiple gold deposits, signaling a potential expansion in gold mining within the region. This discovery…