Asian gold producers begin hoarding domestic supplies

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

Gold price: $4,193.56 $XAUUSD ( 0.0% ) [View live gold price.]

Change from last week: $9.39 (0.22%)

This week’s summary of gold news and analysis.

• Central Bank Gold Statistics: Central banks continue summer spree in August [World Gold Council]

• Asian gold producers begin hoarding domestic supplies after price rises (archive) [Nikkei Asia]

"Eroding confidence in the dollar and concerns over sanctions fuel 'resource nationalism'."

• Gold investing leaps as surging interest rates zap prices [BullionVault]
"Investment gold buying hits 5-year high..."

• 5.3% bond yields can compete with gold, but they can’t stop fiat currency erosion - YieldMax’s Khouw [Kitco]

• Central bank buying builds case for gold equity re-rating [Australian Resources & Investment]

"Central banks are returning to the gold market in force, adding another layer of support to prices and potentially strengthening the investment case for gold miners whose valuations may not yet reflect a higher-for-longer price environment."

• Gold to hit $5,000, silver $97 in the next 12 months - LBMA delegate survey [Kitco]

• Investors poured $18B into gold funds in 1 month, even with gold 23% off its record. Is $5,000 back in play? [Moneywise]

• Gold could average $5,330 in 2027. Is another record high on the way? [Canadian Mining Report]

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Gold news from a global perspective.

• China’s central bank buys 21 tonnes of gold in September, largest monthly purchase in 3 years [Kitco]

• Hong Kong’s bridge of gold completes China’s yuan ambition ($) [SCMP]

"With Shanghai pricing the contracts and Hong Kong handling offshore vaulting, Beijing is building a gold-backed route to currency internationalisation."

• Russian gold floods Hong Kong as Western sanctions redraw bullion trade [CNBC]

• BTC launches gold, silver bullion vending machine in Egypt [Daily News Egypt]

• India scraps key tax relief for gold imports, raising costs (archive) [Bloomberg]

• Dutch central bank transfers 86 tonnes of gold closer to home [Mining]

• Poland holds 648 tons of gold reserves, 10th in the world [Warsaw Business Journal]

• As bombs fall, gold prices rise — and Poland is taking notice [Euronews]

• Hong Kong and Singapore pitch rival gold hubs to bullion market [Bloomberg]

• How a Belgian gold dealer has circumvented sanctions and remains at the heart of a gold smuggling syndicate in Africa [Kenya Insights]

"Four years after Washington blacklisted Belgian dealer Alain Goetz, his old Entebbe compound is still the beating heart of Uganda’s gold trade."

• Inside UAE's record-breaking gold creations: From 300kg ingots to $1 million dresses [Emirates 24|7]

"A series of spectacular gold masterpieces has helped UAE gold makers earn multiple entries in the Guinness World Records."

• London gold body’s legal fight exposes threat to bullion market [Bloomberg]

"The industry body that sets the rules for the world's biggest gold market faces an existential legal battle in a London courtroom next week, in a case that could have far-reaching implications for how the industry polices its supply chain."

• Tanzania gold mine deaths at centre of case against London accreditor of refiners [Reuters]

• ICE brings futures trading to London’s $190 billion-a-day physical gold market [Kitco]

"The world’s largest physical gold trading market now has new futures contracts run by the world’s largest precious metals futures exchange."

• Trump wants to sell Venezuelan gold, government rules backfiring [GoldSeek]

• Uzbekistan becomes world’s third-largest gold buyer amid surging mining costs [Kursiv Media]

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

• Solana’s new gold token lets investors trade physical gold on-chain [The Cryptonomist]

Read more about gold-backed cryptocurrencies.

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

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