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Reserve Bank of India becomes more strict on gold loans

ByVictoria

India’s central bank plans to ask lenders to follow stricter underwriting processes for gold loans and monitor the end-use of funds as it tries to cool growth in the fast-growing segment, seven people, including industry sources and those aware of the regulator’s thinking, said.

“The RBI wants to ensure that the entities are following a standard protocol and any growth in the gold loan sector is not out of bounds,” one of the sources aware of the central bank’s thinking, said.

Source – Reuters

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    Gold continues to climb, tariffs increase demand

    ByVictoria
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    Gold prices rose to a record high on Wednesday on safe-haven demand following U.S. President Donald Trump’s latest tariff threats, while investors awaited minutes of the Federal Reserve’s January policy meeting.

    Spot gold surged to an all-time high of $2,946.85/oz earlier in the session and was last down 0.2% at $2,928.88 as the dollar crept higher as of 12:17 pm ET (1714 GMT).

    “We are in a state of unusual-heightened uncertainty… the catalyst is the tariffs and trade talks or threats that are going on around the world,” which is supporting the prices, said Paul Wong, market strategist at Sprott Asset Management.

    Among other metals, spot silver, used in electrical components, shed 0.7% to $32.64 an ounce, which aims to challenge a 10-year high.

    Platinum declined 2.1% to $966.65 and palladium eased 1.9% to $968.43.

    Source – Reuters

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    Gold prices rise, fears of trade war

    ByVictoria
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    “Gold is still benefiting from investors looking for safe-haven assets amid concerns of a tariffs and trade war,” UBS analyst Giovanni Staunovo said.

    “We continue to see upside for gold, with the yellow metal expected to rise to $3,000, benefiting also from ongoing central bank demand.”

    Spot silver rose 0.3% to $32.24 an ounce after hitting its highest level since October 31 on Friday.

    Platinum gained 0.1% to $980.43, and palladium climbed 1.9% to $978.25.

    Source – Reuters

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    3 Gold Stocks And 1 Silver Stock are hitting new highs

    ByVictoria
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    SPDR Gold Shares

    It’s been having a good run: from the early June 2024 low of $212 to the present $264 amounts to a 19.7% return from then to now.

    ASA Gold and Precious Metals

    The South African-founded miner is now domiciled in Bermuda and has a market cap of $477 million. The price-earnings ratio is 7.61 and the stock trades at 1.12 times its book value. ASA in November 2024 paid a .16% dividend.

    Franco Nevada

    Headquartered in Toronto, the company has a market cap of $27 billion. This year’s earnings are down by 13.15%. Franco Nevada has no debt, long-term or otherwise.

    Kinross Gold

    This Canadian miner has a market cap of $14.51 billion. Earnings this year are up by 71%. The price-earnings ratio is 19.74. The debt-to-equity ratio is .26. Kinross Gold pays a dividend of 1.02%.

    Discovery Silver

    This is an OTC stock (also trades on The Toronto Stock Exchange) with an average daily volume of 237,000 shares. Market cap is $433 million. According to the company website, Discovery has “high quality gold producing assets in Canada” and “the world’s largest undeveloped silver deposit in Mexico.”

    Source – Forbes

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    United States Mint updates gold pricing on gold coin

    ByVictoria
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    The United States Mint establishes pricing on numismatic gold coins via its pricing grid, and updates were published July 1 in the Federal Register.

    The LBMA closing spot price of gold per troy ounce June 30 was $3,287.45. If the average spot price were to remain at that level until the week of sales opening, the pricing grid predicts that the Mint would set the opening sale price at $2,150 for the Sacagawea 25th Anniversary half-ounce gold dollar and at $2,650 for the Superman half-ounce gold $50 coin.

    Source – Coin World

    LBMA –  London Bullion Market Association is a whole sale market for trading precious metals. Gold, silver, platinum, and palladium.

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    Gold breaks $3000, what happened

    ByVictoria
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    “Gold is an asset that is able to preserve value under the biggest variety of macroeconomic dislocations that we have seen,” said Thomas Kertsos, co-portfolio manager at First Eagle Investment Management LLC. “We’ve seen that over centuries gold has been able to — despite the volatility — always mean-revert and always maintain its purchasing power, all while providing significant liquidity.”

    “You’ve got huge uncertainty coming out of US policy that’s also just casting its shade over the global economy this year,” said Ian Samson, a multi-asset portfolio manager at Fidelity in Singapore.

    The foundations for the gold rally were partly set by global central banks’ wariness of relying heavily on the US dollar, also a reflection of geopolitical uncertainty.

    Source – Bloomberg

    Rally – is a period of sustained increases in the prices of related indexes. In this case we are talking about gold.