Gold Prices Update – Next week will likely revolve around two major events — the U.S. Q1 GDP data and the Fed Meeting rate announcement followed by the central bank chair Jerome Powell press conference. Both are scheduled for Wednesday.
central bank
Analysts say Russia Doesn’t Need to Hold More Gold in Reserve
The central bank announced on Monday that it would stop buying gold starting April 1, but didn’t explain the move. Analysts say Russia already has a lotof gold stashed in reserves and likely doesn’t need more.
Powell Analysis: Fed may cut rates in 2020, but the dollar moves to Trump’s tune
The central bank is ready to respond to a slowdown – or “material reassessment.” That is the critical part from the prepared remarks that Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, has prepared for his testimony. The Fed is content with the current state of the US economy and with its policy – but is ready to cut interest rates once again. That may happen in 2020.
India’s Central Bank Faces Calls for Rate Cuts – Gold Silver Reports
Gold Silver Reports (GSR) – Growth cooled to 5.8% in the first three months of the year, the slowest pace in several quarters, according to a government report on Friday. That took the expansion in the fiscal year to March 2019 to 6.8%, lower than the 6.9% median estimate in a Bloomberg survey.
US Fed ‘Patient’ on Further Rate Hike: FOMC Minutes
The latest minutes of the US Federal Reserve (Fed) monetary policy meeting showed that the central bank was still “patient” on further rate hikes.
Renaissance Capital says Russia may Start to Import Gold
The span of a decade, the country quadrupled its bullion reserves, and 2018 marked the most ambitious year yet. And the pace is keeping up so far this year. Data from the central bank show that holdings rose by 1 million ounces in February, the most since November.
Gold Demand Gained 4% on Highest Central Bank Buying in 50 Years
Gold Silver Reports (GSR) – Gold demand in 2018 reached 4,345.1t, up from 4,159.9t in 2017 and in line with the five-year average of 4,347.5t. A multi-decade high in central bank buying (651.5t) drove growth.