• English
  • Deutsch
  • Español
  • Français
  • Italiano
  • Русский
  • Polski
  • 日本語
  • 简体中文
  • 繁體中文
  • Daily audit
  • Help
  • Contact
  • Deposit
  • Login
  • Open account
  • ABOUT US
    • About BullionVault
    • In the press
    • Reviews
    BUY/SELL BULLION
    • Live order board
    • Daily price
    • Regular Investing
    INVESTMENT GUIDE
    • Guide to gold
    • -How to buy gold
    • -Gold investment
    • -Gold investment plan
    • -Investment insurance
    • -Compare asset performance
    • Guide to silver
    • -How to buy silver
    • Guide to platinum
    • -How to buy platinum
    GOLD NEWS
    • Gold news front page
    • -Gold price news
    • -Opinion & analysis
    • -Market fundamentals
    • -Gold/Silver Investor Index
    • -Infographics
    CHARTS
    • Gold price
    • Silver price
    • Platinum price
    • Price alerts
  • Login
  • Open account
  • BUY/SELL BULLION
  • Live order board
  • Daily price
  • Regular Investing
  • INVESTMENT GUIDE
  • Guide to gold
    • ⤷
    • How to buy gold
    • Gold investment
    • Gold investment plan
    • Investment insurance
    • Compare asset performance
  • Guide to silver
    • ⤷
    • How to buy silver
  • Guide to platinum
    • ⤷
    • How to buy platinum
  • GOLD NEWS
  • Gold news front page
    • ⤷
    • Gold price news
    • Opinion & analysis
    • Market fundamentals
    • Gold/Silver Investor Index
    • Infographics
  • CHARTS
  • Gold price
  • Silver price
  • Platinum price
  • Price alerts
  • ABOUT US
  • About BullionVault
  • In the press
  • Reviews
  • Help
  • Contact
  • Daily audit
    • English
    • Deutsch
    • Español
    • Français
    • Italiano
    • Русский
    • Polski
    • 日本語
    • 简体中文
    • 繁體中文

Gold News

Live support

NEED HELP? ASK US NOW

Search form

Gold News front page

Gold Price News

Gold and Silver Fall, Ratio Turns Up as US Bond Yields Rise Near 4-Year High

More...

Gold Investing In Depth

Learn about gold bullion bars

Learn about gold bullion coins (and costs)

Gold investment: Why & how?

Gold Investment Analysis

  • Latest Gold Investor Index
  • Diversification: Gold as investment insurance
  • 40-year Asset Performance Comparison Table

Gold Articles

Opinion & Analysis

Gold Price News

Investment News

Gold in History

Gold Books

Gold Investor Index

Gold Infographics

Archive

  • April 2018 (23)
  • March 2018 (45)
  • February 2018 (31)
  • January 2018 (38)
  • December 2017 (31)
More...

List of authors

Gold Prices Near 4-Week High as China Boosts Yuan, Euro Inflation Pops, UK Borrows Like 2005, US's Trump 'Key to 2017'

Wednesday, 1/04/2017 13:50
GOLD PRICES rose against all major currencies bar the Chinese Yuan on Wednesday, nearing 4-week highs versus a falling US Dollar at $1165 per ounce as crude oil rose to new 18-month highs above $55 per barrel.
 
The Yuan meantime rose sharply from its new 6-year lows after Beijing raised its key reference rate and global news-wires quoted un-named sources saying that the politburo is " preparing contingency plans" to stem capital outflows, including an order to force state-owned companies to sell Dollars for the Chinese currency.
 
Beijing's foreign exchange reserves have sunk to 2011 levels – albeit still the world's largest at $3 trillion, almost three times No.2 Japan – as the People's Bank tries to slow the Yuan's decline, injecting a monthly record of $104 billion into the banking system through its Medium-Term Lending Facility in December alone.
 
Chinese gold prices were barely changed this morning from Tuesday, but with the Yuan rallying on the currency markets, that widened the Shanghai premium above international quotes to $25 per ounce, some 10 times the typical incentive to new imports.
 
London's FTSE100 index meantime edged back from yesterday's new all-time high and Eurozone equities retreated from a fresh 13-month peak as the Eurostat data agency said consumer-price inflation across the 330 million citizen currency union jumped from 0.8% to 1.1% per year in December, led by 2.5% jump in energy costs and a 2.1% jump in unprocessed food.
 
Excluding those 'volatile' items however, the Eurozone's 'core' inflation rate still moved up from 0.8% to 0.9% per year, the fastest pace since July.
 
Chart from Eurostat of contributions to December 2016 HICP
 
Following Tuesday's fresh trade war spat between Beijing and US president-elect Donald Trump, "Trump's actual policy delivery and his stance against China are critical to the Dollar and Yuan direction in 2017," says Asian FX strategist Ken Cheung at Mizuho Bank in Hong Kong.
 
"The US is [also] going to remain the key to gold price movements," says David Govett at bullion brokers Marex Spectron in London, "with eyes on the Fed, the Dollar and of course the incoming president.
 
"Regardless of your thoughts on him, [Trump] is very unpredictable and...will keep the world on tenterhooks with his every tweet and utterance.
 
"I believe will give gold a boost from time to time...[but] I see a range trading year for gold [between] $1100-1300...unless something awful happens."
 
Separate data Tuesday put consumer confidence in France at the highest in 9 years, while unsecured lending to UK households jumped last month at the fastest pace since 2005 and new orders for UK construction companies grew at the fastest in almost a year, the Markit data agency said in its latest PMI survey.
 
US factory activity hit a two-year high in December, the Institute for Supply Management said yesterday, while spending on new construction hit the highest in a decade.
  • Reddit logo
  • Facebook logo
  • Twitter logo
  • Google logo
  • Yahoo logo
  • LinkedIn logo
  • Digg logo
  • StumbleUpon logo
  • Technorati logo
  • del.icio.us logo

Adrian Ash is director of research at BullionVault, the physical gold and silver market for private investors online. Formerly head of editorial at London's top publisher of private-investment advice, he was City correspondent for The Daily Reckoning from 2003 to 2008, and is now a regular contributor to many leading analysis sites including Forbes and a regular guest on BBC national and international radio and television news. Adrian's views on the gold market have been sought by the Financial Times and Economist magazine in London; CNBC, Bloomberg and TheStreet.com in New York; Germany's Der Stern; Italy's Il Sole 24 Ore, and many other respected finance publications.

See the full archive of Adrian Ash articles on GoldNews, or get more from Adrian Ash on Google+

Please Note: All articles published here are to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it. Please review our Terms & Conditions for accessing Gold News, RSS links are shown there.

Follow Us

Facebook Youtube Twitter LinkedIn

 

Mobile apps

 - live trading 24/7

 - buy & sell instantly

 - up-to-the-second charts

 

 

 

Daily news email
Go to 'communications settings' 

Get the latest daily gold price news free by email

Latest gold news by email

 

 

 

Gold Investor Index
3 April 2018

Gold Investor Index

Gold investing slips despite stockmarket drop

 

 

 

Moneycontrol
28 March 2018

Moneycontrol

3 key signals in gold

 

 

 

Daily Express
22 February 2018

Lehman Brothers collapse, 2008

10 years after the financial crisis

 

 

 

Is Bitcoin the answer?
7 December 2017

Bitcoin bitcoin bitcoin bitcoin bitcoin

Paul Tustain on money, gold and Bitcoin

 

 

 

  •  Syndicate Gold News
  •  Email us

Market Fundamentals

  • China's Gold Mining Output Shrinks Again
  • Silver Trading 'Oversold' on Record High Short Position
  • 2018 Gold Price 'Could Hit $1450'
More...
  • Cost calculator
  • Cookies
  • Terms & conditions

©BullionVault Ltd 2005-

  • Twitter
  • Facebook
  • Google Plus
  • LinkedIn
  • YouTube