Gold hits highest level in three months

A summary of the most important gold news and analysis from the last week.

Gold price: $4,584.16 $XAUUSD ( 0.0% ) [View live gold price.]

Change from last week: $46.31 (1.02%)

This week’s summary of gold news and analysis.

• Gold hits highest level in three months as traders worry about US inflation and bond market jitters – as it happened [The Guardian]

• Gold advances to three-month high as debasement trade returns [Financial Post]

• David Morgan: gold is winning the battle for monetary trust [GoldSeek]

• The year the rich went wild for gold [FT]

"Demand for vault space with ‘white glove’ service rises after blistering rally."

• Where are central banks keeping their gold? [Investing]

• Artisanal and small-scale gold mining: a vital source of gold supply [World Gold Council]

• Gold price predictions: why Morgan Stanley sees gold prices breaking above $5,000 in 2027 [Barchart]

• Natixis raises gold price target to $5,000 as U.S. debt and bond market fears mount [Kitco]

• Gold price forecast, prediction: BofA sees $5,000 in 2027 as bullion surges [Exchange Rates UK]

• ‘Gold is a clear beneficiary of de-dollarization… and we think it can continue to climb’ – UBS [Kitco]

"Gold is benefiting from a reinvigorated de-dollarization trade, and the monumental fiscal challenges facing the United States could push the yellow metal’s price above $5,400 by next summer, according to commodity and currency analysts at UBS."

• $5,000 gold is back in play, and $10,000 is a matter of 'when, not if' - State Street’s Doshi [Kitco]

• Forget $10,000 gold, the trend is higher until governments fix their debt – John LaForge [Kitco]

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Gold news from a global perspective.

• China builds global gold network, boosts yuan’s international role: report [Global Times]

• HKEX gold futures smash delivery record as US sanctions reshape trade ($) [SCMP]

"The milestone more than doubles the previous peak recorded in 2018."

• China's July net gold imports via Hong Kong rose 11pc m-o-m [The Standard]

• Hong Kong gold imports fall 18% in July as mainland giants rush to build vaults ($) [SCMP]

"While monthly shipments cool from record highs, banks and logistics giants are racing to secure physical space for the city’s rising bullion trade."

• China’s gold chase to gain pace in an uncertain world [S&P Global]

• Scott Bessent predicted a potentially gold-backed Renminbi in 2023: Now, China has quietly acquired ‘far more gold’ than reported [Benzinga]

• Cash crunch hits Ghana’s state gold-buying scheme [Miningmx]

• India gold market showing signs of recovery [FXStreet]

• How to reduce gold imports? Nilesh Shah pitches gold-backed stablecoin [NDTV Profit]

"Kotak AMC's Nilesh Shah says India is sitting on trillions of rupees in idle gold and wants startups to unlock it through crypto and stablecoin products rather than let the import bill keep climbing."

• Indonesia's gold bank transforms idle assets into value: Airlangga [Antara News]

• Zanjani launches private gold market despite central bank warnings [IranWire]

• Kyrgyzstan exports just 190.7 kilograms of gold in six months [24.KG]

• Unearthing gold bargains in two small Malaysian towns [The Straits Times]

"Kuala Pilah and Port Dickson are known for cheaper gold. We find out why prices differ and what buyers should check before purchasing."

• Thailand to discuss proposed taxes with gold association this week, Finance Minister says [Reuters]

• Central Bank ends physical gold conversion scheme [Hürriyet Daily News]

• When a carpenter in California found a nugget of gold, it started a rush toward nothing less than the modern world [Smithsonian Magazine]

"A new book by historian Nathaniel Philbrick makes the case that James Marshall’s 1848 discovery set in motion events from the Civil War to the rise of Silicon Valley."

• Zimbabwe’s gold push: Can formalisation curb smuggling and damage? [The Africa Report]

• Buy and sell gold with cryptocurrencies with low fees, secured and insured in professional vaults. (sponsor)

• Tether shelves gold-backed aUSDT stablecoin, shifts focus to core products [CoinMarketCap]

Read more about gold-backed cryptocurrencies.

Gold Weekly features curated articles from various sources and is not financial advice.

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