Gold tops $1900 for first time since May after US CPI drops

Your weekly summary of the most important gold news and analysis of the last week.

Gold price USD/OZ: $1,896.58 [View live gold price.]

Change from last week: $56.07 (3.05%)

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Gold news

• Gold's new golden year

“2023 macro set fair for gold and miners...”

• Gold tops $1900 for first time since May after US CPI drops

• Gold Price Forecast: XAU/USD could skyrocket to $2,300 on a move beyond highs at $2,070/2,075 – Credit Suisse

• Gold's march towards all-time highs pulls in retail investors

• Will gold get its mojo back or lag in 2023?

• $5k gold in next bull run, inflation to ‘tear society apart' if Fed fails - Michael Lee

• Why gold is the bright stuff for would-be sanctions busters [$]

World news

🇨🇳 China

• China extends gold buying with fresh flows to central bank

• Gold will be instrumental in China's plan to create an international oil/renminbi market - BNP Paribas

• Rise of the gold-backed e-yuan

🇮🇳 India

• Indian gold refiners struggle as smugglers offer hefty discounts

🇮🇶 Iraq

• Iraq among most prominent countries to buy gold in 2022

🇷🇺 Russia

• Russians buy record amount of gold bullion in 2022

🇱🇰 Sri Lanka

• Sri Lankan authorities restrict import of gold jewellery

🇨🇭 Switzerland

• Gold giant JPMorgan may move into precious metals clearing in Zurich

🇦🇪 United Arab Emirates

• UAE: 44 shoppers win 11kg gold during Dubai Shopping Festival

Gold in the news

• Scottish brewer learns valuable lesson that when it comes to solid gold, be specific

Gold-backed cryptocurrencies

• Physical gold-backed NFT collection (Golden Egg Club) on the brink of new heights

• Beyond Bitcoin: why developing nations should look to stablecoins

“…for stablecoins to live up to the promise of ‘stability’, there must be a wider, more mainstream movement away from being backed by inflation-prone fiat currencies towards more reliable physical assets – notably a fully redeemable physical asset like gold.”

• Read more about gold-backed cryptocurrencies.

Gold Weekly features curated articles from various sources and is not financial advice. For advertising and news submission requests, contact us.