Precious Metals

The People’s Bank of China has built up gold inventories in Hong Kong over recent months, accelerating a shift of reserves from London. The move supports Hong Kong’s effort to expand as a bullion trading center with a new clearing system. Additional central bank demand bolsters physical gold offtake and prices. Read →

World Gold Council data shows global gold-backed ETFs recorded US$3bn net inflows in July, reversing prior outflows and lifting AUM 1% to $530bn. European funds led with $2bn, including strong buying from the UK and Switzerland; holdings rose 23 tonnes to 4,068t. Year-to-date inflows reach $11bn as investors re-enter at lower prices. Read →

Spot gold rose to near $4,244/oz and silver to $61.88/oz, both up over 4% after July ADP private payrolls came in at just 44,000 jobs versus 75,000 expected. Softer labor data, weaker dollar and lower Treasury yields reduced September Fed hike odds while Hormuz shipping deal optimism capped oil-driven inflation fears. Read →

Spot gold climbed above $4,200/oz as ADP reported 44,000 private-sector jobs added in July, below the 68,000 consensus. The miss eased immediate Fed tightening pressure even as wage growth stayed elevated at 4.4% for job stayers. Read →

Heather White, CEO of Sunshine Silver Mining & Refining, said investors now recognize silver's critical role in AI data centers, semiconductors and power infrastructure after the company's June NYSE IPO. She highlighted structural supply deficits and the firm's plan to restart Idaho's Sunshine Mine as America's second-largest pure-play silver producer by late 2028. Read →

Spot gold rose 0.1% to $4,081.09 per ounce on Wednesday, supported by a weaker dollar. Traders await Friday's US July payrolls report for clues on Federal Reserve policy, with 57% odds now priced in for a September rate hike. Geopolitical progress on US-Iran talks eased oil prices, reducing near-term inflation pressures that had weighed on metals. Read →

On Tuesday gold gained 0.55% to $4,088.50 per ounce while silver rose 2.64% to $60.24. Platinum surged 6.18% and palladium 6.46% as Treasury Secretary Bessent comments on US-Iran talks sent oil prices lower for a second day, pulling yields down and easing inflation expectations. Read →

NYMEX platinum closed up 7.41% at $1,746.80 per ounce and palladium up 7.47% at $1,350.50 on August 4. US Section 232 tariff proposals on downstream metals raised risk premiums for PGMs despite no direct coverage, while unresolved import restriction probes added to supply concerns from Russia and South Africa. Read →

The Bank of Korea established a framework to purchase gold from domestic producers at international market prices via KRX and KSD systems. This marks its first domestic gold buys in 13 years and aims to diversify reserves and boost holdings. The move adds fresh central-bank demand to the physical market. Read →

Spot gold rose 0.2% to $4,062.41/oz Tuesday while silver jumped 1.2%, platinum 0.9% and palladium 0.9%. Traders weigh uncertain U.S.-Iran talks and upcoming U.S. jobs data for Fed rate clues. Weaker jobs could ease rate-hike odds and support metals. Read →

Spot gold climbed 0.4% to $4,055.76 per ounce after oil prices fell more than 5% following U.S. President Donald Trump's decision to hold off on new attacks on Iran in favor of talks. Silver gained 0.9% to $58.13, platinum rose 0.5% to $1,649.35, and palladium added 1.7% to $1,294.92. The moves reflect reduced near-term inflation pressure from energy prices and a softer dollar after yen intervention. Read →

Central bank net gold purchases hit 289t in Q2, up sharply from a revised 57t in Q1 and a Q2 record. Poland led with 51t added and China with 33t, while sales moderated with Russia the main seller at 22t. The rebound underscores sustained official-sector demand amid softer prices and geopolitical factors. Read →

Spot gold fell 0.7% to around $4,075/oz on Friday but is set for a 1.7% monthly gain, its first in five months. Bargain buying near $4,000 and Middle East developments supporting rate-cut hopes aided the complex. Silver, platinum and palladium also posted monthly advances despite daily declines. Read →

Comex gold futures rose 1.58% to settle at $4,100.10 on July 30 after the Federal Reserve held rates steady. The move followed the central bank's decision and came amid shifting rate expectations. Spot gold traded near $4,075/oz in subsequent sessions. Read →

Physically backed gold ETFs saw $8.9bn outflows in June across all regions, with North America losing the most, cutting AUM 13% to $526bn. H1 net inflows still reached $8bn overall, led by Asia's record strength while Europe added inflows and North America posted losses. Holdings fell 74t in the month but rose 18t year-to-date. Read →

Official gold reserves rose a net 41t in May, driven by Poland's 18t purchase and China's 10t addition, with Uzbekistan, Kazakhstan and Singapore also buying. The activity extends the multi-year trend of emerging-market central banks accumulating gold. 89% of surveyed central bankers expect global reserves to increase over the next 12 months. Read →

A Reuters poll of 29 analysts cut the median 2026 gold price forecast to $4,509/oz from $4,916/oz three months earlier, the first trim since late 2023. Central banks remain the key demand driver even if purchases slow from record levels. Structural supports like geopolitics and fiscal concerns stay intact despite the pullback from January's $5,595 record. Read →

Spot gold edged steady near $4,024.54/oz with U.S. futures down 0.4% as markets await the Fed decision and Chairman Kevin Warsh comments at 1800-1830 GMT. A 68% chance of unchanged rates and 32% of a 25bp hike is priced in. Silver rose 0.5% while platinum and palladium fell. Read →

Spot gold fell 0.73% to $4,045 per ounce and silver dropped 1.71% to $57.47 as the U.S. dollar strengthened ahead of the July 29 FOMC decision. The moves reflect markets pricing a higher chance of a rate hike, reducing safe-haven appeal for the metals. Read →

State Street's Aakash Doshi said gold should consolidate near $4,000 through summer but its next major leg higher targets $4,750-$5,500 over six to nine months once rate expectations ease. He cited resilient central-bank buying, strong Chinese imports, and record global debt as structural supports despite higher real yields. Read →

Author Willem Middelkoop said China bought over 150 tonnes of gold in June and favors lower prices to accumulate more, with total Chinese demand 150-200% above year-ago levels. He argued central banks are driving a gradual monetary reset by shifting reserves from Treasuries to physical gold, moving price discovery toward Shanghai. Read →

Newmont posted adjusted profit of $2.10 per share versus $1.99 expected. Quarterly gold production fell to 1.29 million ounces from 1.48 million a year earlier due to lower grades and seismic issues at some sites. The company expects Q3 output broadly in line with Q2 and $1.4 billion in 2026 development capital. Read →

24-carat gold rose Rs 960 to Rs 1,45,890 per 10 grams and 22-carat rose Rs 850 to Rs 1,33,700 over the last 24 hours. 18-carat gold increased Rs 690 to Rs 1,09,390. Silver held steady at Rs 2,40,000 per kilogram. Read →

Bank of America lowered its 2026 average gold price forecast 14% to $4,360 an ounce on a more hawkish Fed outlook. The bank still sees $5,000 per ounce possible once tightening ends and maintains a longer-term bullish stance on the metal. Read →

Gold and silver prices in India declined for the second consecutive trading session, with gold falling about 4,400 rupees per 10 grams and silver about 9,600 rupees per kilogram. The move reflects local market pressures on retail demand and currency factors. Spot gold traded around $4,058 per ounce globally. Read →

Indian gold prices fell Rs 591 and silver Rs 1,300 per relevant unit on Friday, extending pressure from prior sessions. The decline tracks local buying patterns and rupee movements affecting physical markets. Broader spot prices remain elevated near recent highs around $4,058 per ounce for gold. Read →

Gold prices in Pakistan dropped Rs 4,600 per tola on Friday, following recent downward pressure in regional markets. The move highlights local retail and import dynamics in South Asia. Global benchmark gold held near $4,058 per ounce. Read →

Spot gold traded flat at $4,133.08 an ounce in early Asian hours on July 23. A modest dollar pullback lent support while elevated bond yields and upcoming ECB, Fed, BOJ and BOE decisions weighed on the outlook. Higher rates typically pressure non-yielding assets like gold. Read →

The People’s Bank of China added 15 metric tons in June, its largest monthly purchase since October 2023 and 20th consecutive month of buying. Official reserves reached 2,346 tonnes. Central banks in emerging markets bought the dip while institutional investors sold amid rising U.S. rates. Read →

Bank of Tanzania purchased about 28 metric tons since late 2024 to bolster reserves and support the shilling. A 2024 mining rule requires exporters to sell at least 20% of gold output to the central bank. The purchases add roughly $3.68 billion in reserve assets. Read →

Spot gold rose to near $4,057.60/oz (+1.26%) and silver to near $58.92/oz (+4.67%) in early Tuesday trading after defending the $4,000 level following last week’s selloff. Short covering drove the rebound while the dollar index held near 101 and 10-year yields near 4.60%. Geopolitical tensions in the Strait of Hormuz added defensive support but higher oil kept yields firm, capping upside. Read →

August gold futures opened at $4,013.40/oz on Tuesday and rose to $4,063.40/oz by early morning. Fighting between the U.S. and Iran raises inflation risks while markets price a 16.6% chance of a 25bp Fed hike next week. Gold trades in a tight range near $4,000 as investors weigh geopolitical support against higher-for-longer rates. Read →

Gold surged past $4,070/oz on July 21 after softer-than-expected US inflation revived Federal Reserve rate-cut hopes. A weaker dollar and Middle East tensions supported safe-haven buying. The move lifts local Pakistani bullion prices, with 24k gold at Rs424,536 per tola. Read →

Gold closed fractionally lower at $4,008/oz but held above the $4,000 level. Silver outperformed with a +0.80% gain to $56.36/oz amid a volatile month. A firmer dollar on geopolitical tensions and cautious Fed rate views weighed on the metals. Read →

Bank of America updated its forecast for platinum to reach $3,000 per ounce by Q4 2026, with palladium at $2,200, citing thin inventories, South African mine constraints, and rising Chinese jewelry demand substituting for expensive gold. The note highlights structural deficits and limited above-ground stocks as key drivers for the bullish outlook. Read →

Valterra Platinum expects first-half headline earnings to rise 1,388% to R18.5bn-R22.2bn, beating consensus, driven by an 80% year-on-year jump in the dollar basket price to $2,710/oz and higher volumes at Amandelbult mine. Production guidance holds at 3-3.4 million oz for the full year despite some Q2 disruptions. Read →

Spot gold traded little changed at $4,018.90/oz as investors weighed escalating Middle East tensions lifting oil prices and inflation risks against hawkish Fed comments. Silver rose 1.7% to $56.87/oz while platinum and palladium held steady near $1,592 and $1,249 respectively. Read →

Spot gold fixed around $3,995/oz and silver around $56.45/oz on Thursday, both new 8-month lows. Resilient June US retail sales and a jump in crude above $80 on US-Iran tensions lifted rate-hike odds. Hawkish Fed expectations and stronger dollar weighed on the metals. Read →

Bank of America technicals flag further downside for gold with a possible test of $3,600 support before a bottom. The bank still recommends modest accumulation below $4,000 and sees miners as attractive at current levels despite cutting its 2026 average gold forecast to $4,360. Read →

Bank of America raised its platinum price target to $3,000/oz and palladium to $2,200/oz for Q4 2026. The upgrades reflect improving fundamentals and auto-sector demand for platinum-group metals. Read →

Spot gold pared earlier losses after US producer prices fell more than expected in June. Escalating Middle East tensions keep inflation and higher-for-longer rate concerns in focus, pressuring the metal. The move highlights gold's sensitivity to both data surprises and geopolitical oil spikes. Read →

Ghana's Gold Board purchased 50-54 metric tons of artisanal gold in H1 2026. Output is projected to match or exceed last year's record 104 tons, supporting FX earnings despite lower prices. The surge follows reforms curbing smuggling in Africa's top gold producer. Read →

New York gold futures slipped about 1% to near $4,030/oz in early trading after Tuesday's 2%+ gain. Higher oil prices from renewed US-Iran tensions raise inflation risks and real-yield pressure, offsetting softer CPI relief. Analysts note the $4,000 support holds but conviction remains low for safe-haven flows. Read →

Genesis Minerals will acquire Vault Minerals in an all-stock deal valuing the combined entity at A$12.6 billion ($8.71 billion). The merger creates Australia's third-largest gold producer with expected annual output of 600,000-700,000 ounces and A$2 billion in synergies. Deal ends takeover battle and signals further mid-tier consolidation in the sector. Read →

Spot gold fell as much as 3.2% to below $4,000/oz after U.S. strikes on Iran and Fed Governor Christopher Waller's remarks boosted odds of a near-term rate hike to 43%. Higher yields and a stronger dollar from oil spikes weighed on the non-yielding metal. The move marks the largest intraday drop in over two weeks amid ongoing geopolitical and policy pressures. Read →

Gold fell 0.37% to $4,119/oz and silver eased as U.S.-Iran conflict escalation triggered a sell-the-news reaction after prior war premiums built in. Platinum rose 0.94% and palladium 2.13% on separate industrial and auto-catalyst demand. Mixed Fed minutes and oil-driven yield rises added to bullion pressure. Read →

The People's Bank of China added 480,000 troy ounces (14.93 tonnes) in June, its largest purchase since October 2023, extending a 20-month buying streak. Official holdings reached 75.44 million ounces despite gold's 12% June drop and hawkish Fed signals. The move underscores sustained official-sector demand amid price volatility and de-dollarisation efforts. Read →

Spot gold fell 1.5% to $4,059.11/oz as U.S.-Iran strikes prompted Iranian claims of Strait of Hormuz closure, sending oil up 4% and the dollar and yields higher. Silver dropped 2.9% to $58.14/oz, platinum 1.8% and palladium 2.3%. Traders now price a 72% chance of a September Fed rate hike. Read →

Spot gold fell 0.9% to $4,084.80/oz in early Asian trade after U.S. strikes on Iranian targets and Iranian fire on Hormuz vessels. ANZ Research said the escalation raises odds the Fed keeps rates higher for longer, pressuring non-yielding assets. Read →

Official reserves rose a net 41 tonnes in May, led by Poland (18t) and China (10t, its 20th straight month). Year-to-date Poland leads with 64t; 89% of surveyed central bankers expect global gold reserves to rise over the next 12 months. Read →