China is buying one of London’s biggest gold vaults. The Chinese state-owned ICBC Standard Bank (IDCBF), the world’s biggest bank by assets, has agreed to buy Barclays precious metals storage business, including its state-of-the-art storage facility in London. The deal will boost China’s access to London’s gold market, and expand the country’s role in the…
China to Buy $90 Billion Gold Vault in LondonDetailsInvestors pulled a whopping $44 billion out of the stock market in the past five weeks. Amid the recent volatility in the markets, investors have been pulling funds out of equities. “The 2015 retreat from US equities by retail investors appeared to be fading as 2016 got off to a less onerous start,” Credit Suisse’s…
Bank of America: We are Witnessing a Stock Market 'Exodus'DetailsLast quarter marked a 30-year high for gold, which is already up 18 percent this year. That kind of growth makes it the best performing major asset of 2016, according to Bloomberg. Recent surges are more than encouraging for gold buyers and holders; historically speaking, gold has maintained a positive return in 12 of the…
Should I Buy Gold Locally?DetailsWith persistently low interest rates around the globe, billionaire investor Warren Buffett told CNBC on Monday he’d consider taking money out of banks, especially if negative interest rates result in customers being charged to park their money in accounts. “There could be a point where you’d really want to start withdrawing currency,” Buffett said in…
Buffett: I Might Consider Taking Money Out of Banks If They Charge for DepositsDetailsGold gained for a sixth straight session on Monday, pushing through the psychologically significant $1,300-an-ounce line, as the dollar remained depressed against chief rivals. Precious metals on Friday posted their highest settlements since January 2015, as a slump in the greenback to its lowest level in about 11 months coaxed investors toward dollar-denominated commodities, including…
Gold Pushes through $1,300 as Dollar Suffers AnewDetailsGold prices could explode if Britons decide to vote for leaving the European Union in the referendum on June 23 — also known as a Brexit. Gold is seen as a haven for cash. It doesn’t pay a coupon like a bond, and it doesn’t pay a dividend from a stock, but it does mean you…
HSBC: Gold Could Explode if Britain Votes for BrexitDetailsChina’s total debt rose to a record 237 per cent of gross domestic product in the first quarter, far above emerging-market counterparts, raising the risk of a financial crisis or a prolonged slowdown in growth, economists warn. Beijing has turned to massive lending to boost economic growth, bringing total net debt to Rmb163tn ($25tn) at…
China Debt Load Reaches Record High as Risk to Economy MountsDetailsGold, one of this year’s best performing assets, has room to extend its advance, according to top-ranked forecasters, even as the rebound shows signs of losing steam. Capital Economics Ltd. and Cantor Fitzgerald LP are bullish as real interest rates will probably stay low even if the Federal Reserve raises borrowing costs in response to…
Gold's Best Forecasters See Rally Resuming on Rates CautionDetailsTwo international banks will join the proposed Chinese yuan gold fix, which is expected to be launched in less than a week, according to media reports. Wednesday, Reuters reported that ANZ and Standard Bank will be the only two international banks that will be involved in the daily gold auction, with a total of 18…
China's Yuan-Based Gold Fix to Include Two International BanksDetailsFive out of eight of the biggest U.S. banks do not have credible plans for winding down operations during a crisis without the help of public money, federal regulators said on Wednesday. The banks have until October 1 to resubmit their plans with serious “deficiencies” corrected, or face stricter regulations, like higher capital requirements or…
U.S. Regulators Fail 'Living Wills' at Five of Eight Big BanksDetailsThe price of gold glittered in early 2016, soaring 17 percent in the first quarter and trouncing returns in major stock and bond indices. Global investors pumped money into the gold market, a traditional safe-haven investment, early in the year as equity markets crashed in a short-lived correction. Stocks have since recovered, but gold hung…
Will Gold Continue to Shine?DetailsGold prices shot to their highest in almost three weeks on Monday, setting the market on a steady course toward $1,300 per ounce, drawing confidence from an ultra-low interest rate environment. Weak economic data and uncertainty over U.S. monetary policy has contributed to risk aversion, boosting investor appetite for bullion and other assets perceived as…
Gold Strikes Highest in almost Three Week, Boosted by Rate OutlookDetails
