|Day's Range||1,465.50 - 1,475.90|
Spot gold fell 0.2% to $1,466.60 per ounce by 0646 GMT, but was up about 0.5% so far this week. U.S. gold futures were down 0.1% at $1,471. U.S. stocks surged to record highs, while Asian equities rose to an eight-month peak, making safe-haven risk-off assets such as gold less appealing.
From the Arctic to sub-Saharan Africa, and from the Middle East to Central Asia, climate change is turning cross-border competition for natural resources into a defining feature of international relations. Population growth and rising consumption of food and raw materials are exacerbating the impact of environmental degradation in less developed areas of the planet. For the future, the question is whether governments and international institutions will reduce the risk of conflicts over natural resources in a world characterised increasingly by Great Power rivalry and the erosion of the post-1945 order.
Large-cap cryptocurrencies had a phenomenal year and remain one of the greatest investment success stories of the decade.
Investing.com - Gold prices are modestly down on Friday in Asia after reports said an agreement in principle had been reached on a phase one trade deal between the U.S. and China.
(Bloomberg) -- Surging gold prices in India are keeping customs officials on their toes.Illegal inflows have jumped after the Indian government increased import taxes in July and prices surged to record highs in September. Customs officials have arrested people for attempting to smuggle in gold by concealing it in bags, clothes and their rectums. On one flight alone, officials caught 30 passengers trying to smuggle in 7.5 kilograms (16.5 pounds) of gold into Chennai.“The propensity to smuggle now is very high because every time you increase the tax rate, you give that much more incentive to smugglers,” P.R. Somasundaram, managing director for the region at the World Gold Council, said in an interview. “So it will continue like this unless measures are taken by not just the government but also the trade which shares an equal responsibility to obliterate the grey market.”Gold in India touched a record high of 39,885 rupees ($563) per 10 grams in early September on higher import taxes and as the U.S-China trade conflict and looser monetary policy boosted global benchmark spot prices. While bullion has since retreated from the all-time high, it’s still up 20% this year.Smuggled inflows of gold may jump 30% to 40% this year to 140 tons and rise more in 2020, N. Anantha Padmanaban, chairman of the All India Gem and Jewellery Domestic Council, said. It could also constitute a bigger percentage of India’s demand as official imports decline, rising to as much as 14% this year from 12% a year earlier, according to the WGC.A previous spate of smuggling occurred after India, which imports almost all of its gold, increased the tax three times in 2013 to control a record current-account deficit. Illegal inflows peaked at 225 tons in 2014 as smugglers attempted to bring in bullion, including via planes and trains.In just the two months of September and October this year, nearly 40% more gold was seized than the same period in 2018 from airports, railway stations and border states, data on the Directorate of Revenue Intelligence’s website showed. Data on the website is available only for the last four months of 2018, limiting year-on-year comparisons.There has been a jump in the smuggling of gold into India from China, Taiwanand Hong Kong, the DRI said. The trend suggests smuggling syndicates are using e-commerce platforms and couriers to smuggle gold into India by hiding it inhousehold and white goods, it said.“The higher import tax has led to not only the people who regularly smuggle gold to smuggle in the metal but it has encouraged even the lay man to go abroad and get some gold for their own consumption or to make money out of it,” All India Gem and Jewellery Domestic Council’s Padmanaban said by phone.Bullion is also increasingly being smuggled in from countries bordering India, including Nepal, Bhutan, Myanmar, China and Bangladesh.“The government needs to bring down the customs duty and also allow jewelers to be a part of the gold monetization scheme so that the idle gold with people comes into the market and we can cut down on imports,” Padmanaban said.\--With assistance from Ganesh Nagarajan and Shruti Srivastava.To contact the reporter on this story: Swansy Afonso in Mumbai at email@example.comTo contact the editors responsible for this story: Phoebe Sedgman at firstname.lastname@example.org, Alpana SarmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Glencore, one of the world’s largest cobalt producers, will use a Hyperledger Fabric blockchain to responsibly source its supply chain.
Based on today’s price action and the current price at $1472.60, the direction of the market into the close is likely to be determined by trader reaction to $1474.10 to $1470.00.
With markets mixed, we're hunting for billion dollar returns and the Libra Investment Token in a major revision to the Libra white paper.
Stock markets rally during the trading session on Thursday, based upon a tweet by Pres. Donald Trump that a deal with China was very close. We have seen this movie before.
The silver market went back and forth during the trading session on Thursday as traders continue to try to find some type of longer-term move.
Crude oil markets rallied a bit during the trading session on Thursday, as we continue to press major resistance. At this point in time though, we simply don’t have enough momentum to go anywhere.
Gold markets initially tried to rally during the trading session on Thursday but ran into a lot of resistance in the form of a downtrend line. Beyond that, we also have the 50 day EMA starting to influence the market as well.
Since its inception in 2003, Roshan has grown to become the biggest telecoms operator in Afghanistan, and the superlatives don’t stop there. It is also the only B Corporation in Afghanistan. The B Corp designation means the company has adopted globally recognized business standards that encompass a lot of what it does—the community it’s striving to support, the enfranchised workforce it wants to have, and the kind of company it believes it can be—in a system that holds it internationally accountable.
Gold traders are being cautious on Thursday, but not because of the outcome of the U.K. elections, but because of the uncertainty over whether the U.S. will impose new tariffs on Chinese imports on December 15.
Silver prices posted considerable gains after the Fed rate decision was more dovish than expected. Currently, the metal is trading slightly below the $17.00 level.
What would the late former Federal Reserve Chair Paul Volcker have thought about digital currencies issued by central banks?
Based on the early price action and the current price at .6884, the direction of the AUD/USD the rest of the session on Thursday is likely to be determined by trader reaction to the 50% level at .6876 and the downtrending Gann angle at .6893.
Investing.com - Oil prices traded higher on Thursday in Asia as the Organization of the Petroleum Exporting Countries (OPEC) revised its deficit forecast for next year.
Investing.com - Gold prices traded higher on Thursday in Asia after the U.S. Federal Reserve held its benchmark interest rate steady and signalled it expects that hold to last through 2020.