China has placed millions of its citizens under renewed lockdown after fresh outbreaks of Covid-19 as the government persists in its hardline policy on containing the virus in the face of more evidence that it is suffocating the economy.
Spot Gold slip to a one-week low of $1,772 [16-08-2022]
Spot gold (Yellow Metal) fell to a one-week low of $1,772 a troy ounce on Monday as risk aversion benefited the American currency against all of its major rivals. gold managed to bounce after the US opening, as Wall Street opened in positive territory despite the ruling dismal market mood. Softer-than-anticipated Chinese data released at the beginning of the day spurred risk aversion as the focus returned to a potential economic setback.
Base Metals: Copper prices Skids to lowest in a month as investors reduce risk
Base Metals: Copper prices have dropped 0.35% this week however they will now be at 4 pyo per pound. Gold and silver had also risen from covid-lows to $9,700 metric tonne in New York. The bellwether has been fuelled by a widely-held belief that demand for it should be heavily supported by the economic post-pandemic boom but also by the worldwide push to decarbonise.
Copper Hit All Target 668 To 800, just smashed past a record. Here’s what you need to know
Copper soared this week to an all-time high, continuing a sizzling rally that’s seen prices double in the past year.
China’s Recovery Points to Lunar New Year Boost for Gold Demand
Gold Demand : China’s economic recovery from the coronavirus pandemic may offer some solace to gold bulls, with expectations building that jewelry demand will rebound following last year’s wipe out.
Gold ETFs attract Rs 6,657 crore inflow in 2020
Gold ETFs : Economic downturn due to coronavirus pandemic and weakness in the US dollar encouraged investors to infuse a whopping Rs 6,657 crore in gold exchange-traded funds in 2020.
Asia Money Managers Buy Gold, China Stocks to Hedge Election
Money managers in Asia are deploying a range of traditional and unconventional strategies to cushion any losses as they brace for turbulence in the lead-up and aftermath of the U.S. presidential election.