Central banks are set to increase their purchases of gold in 2018 for the first time in five years as eastern European and Asian countries seek to diversify their reserves.
Russia
How Does Gold Impact the Indian Economy?
India’s gold market is driven primarily by the consumption and fabrication of the yellow metal. Both have a significant impact in terms of economic value add, employment, contribution to foreign exchange earnings, and the trade balance. A report commissioned by the World Gold Council from PricewaterhouseCoopers estimated that gold made a direct contribution of more than $30 billion to the Indian economy.
Red Alert — Russia is About to Sell a US Ally Billions of Dollars in Weapons, and Trump May Have to Respond – Gold Silver Reports
India Prime Minister Narendra Modi will sit down with Russian President Vladimir Putin in New Delhi this week to sign billions of dollars worth of arms deals.
Saudi Arabia, Russia Agreed in September to Lift Oil Output, Told US – GSR
US President Donald Trump has blamed the Organization of the Petroleum Exporting Countries (OPEC) for high crude prices and called on it to boost output to bring down fuel costs before the US Congressional elections on 6 November.
China’s Wang says China will not be blackmailed or yield to pressure over trade – GSR
China’s Wang says China will not be blackmailed or yield to pressure over trade GSR — Days after U.S. President Donald Trump denounced globalism at the United Nations, China positioned itself Friday as a “champion of multilateralism” that is keeping international promises when Washington is backing away from them.
What Would Happen To USD If Oil Hits $100 A Barrel?
Technical Perspective
The main focus is now on a retest of the year to date high (and 2011 low) around 75.15. Above here and the next technical resistance level will be the 61.8% retracement from 2014 highs around 79.51. To the downside, support is seen along the bullish channel base which, while intact, keeps focus on the further upside.
Breaking News : Crude Oil Blast; Russia warns west ‘not to play with fire’ in Syria: Lavrov
Breaking News : Crude Oil Blast; Russia warns west ‘not to play with fire’ in Syria
Russia is Dumping Its US Bonds for Gold, But Where Is It Storing Its Bullion?
Gold Silver Reports (GSR) – Russia’s gold reserves rose to 1,944 tons as of June 2018, up from less than 500 tons just a decade ago. The holdings, amounting to over 17 percent of Russia’s total foreign reserves, were shored up in part by offloading some $77 billion worth worth of its US Treasury bills, bonds and notes over the last six months or so.
A New History Starts Now’ as Leaders of Two Koreas Meet
Gold Silver Reports (GSR) – ‘A New History Starts Now’ as Leaders of Two Koreas Meet — Scenes of Moon and Kim joking and walking together marked a striking contrast to last year’s barrage of North Korean missile tests and its largest ever nuclear test that led to sweeping international sanctions and fears of a fresh conflict on the Korean peninsula.
Russia’s Wheat Crop Under Threat From Miserable Start to Spring
Gold Silver Reports (GSR) – Russia’s Wheat Crop Under Threat From Miserable Start to Spring – Cold weather in central areas and the Volga valley delayed the resumption of winter wheat growth by about two to three weeks compared with last year, according to the Institute for Agricultural Market Studies, or IKAR. Lingering snow has also given farmers in the world’s top exporter less time to sow spring crops, potentially leading to smaller-than-expected plantings.