Known as Sofaz, the fund is looking to almost double its holdings of the precious metal in 2019 to 100 tons after resuming purchases in 2018 following a five-year break.
Money Market
At Gold Silver Reports, we cover the latest money market news and analysis, including interest rates, financial updates, investment trends, and economic insights. Stay updated with expert coverage to make smarter financial and trading decisions.
Gold out, Beers in? Lawmaker gives Bank of England Money Saving Tips
Gold Silver Reports (GSR) – The Bank of England was asked to consider moving the gold bars out of its vaults so that space could be rented to a pub, during its first hearing before a parliament spending watchdog.
Investing in gold? Go the bond way
Gold Silver Reports (GSR) – The Reserve Bank of India (RBI) on Friday announced series 5 of the sovereign gold bond scheme for this financial year.
Gold Bond Scheme 2018-19 – Series Launched, Nominal Value of the Bond is Fixed @ Rs 3,214 per gram
The new series of sovereign gold bonds opened for subscription today and will close on 18 January. The date of issuance will be 22 January.
Govt Fixes Rs 3,214 per gram Price For Next Series of Gold Bonds
“Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode,” RBI said in a statement.
BlackRock Heaps Praise on Gold’s Role as a Tough Year Opens
Gold may extend gains as global growth slows, equity market volatility remains elevated and the Federal Reserve is expected to ease back on the pace of policy tightening this year, according to a BlackRock Inc. money manager, who says the Precious metal offers an effective hedge.
Gold Price Zoom Skyrockets
Gold Silver Reports (GSR ) – Gold prices has reached a 6.5 month high. Spot Gold prices went up by 0.42% to trade at 1,290.20 an ounce, while gold futures went up $10 higher to close trading on Thursday at $1294.80 an ounce.