Gold market update
Gold prices rose on Monday, supported by easing US bond yields and concerns over rising Delta variant infections, with investors eyeing the Federal Open Market Committee’s meeting this week.
Spot gold rose 0.3% to $1,806.80 per ounce by 06:49 GMT. US gold futures climbed 0.3% to $1,806.70.
“There is no guarantee (that) we have gotten rid of this scourge (COVID-19) and this is continuing to keep safe-haven bid under gold simply because that could possibly keep central banks on the dovish side,” said Stephen Innes, managing partner at SPI Asset Management.
Gold price this month in AUD/OZ
The country of El Salvador has taken the decision to add Bitcoin as legal tender. This week we explore whether Bitcoin can deliver the fair financial future they’re seeking.
Read the article: Bitcoin, gold, and inclusion.
Gold in the news
Here are a few articles trending on the subject of gold:
- Continuing the theme, investment analyst firm Morningstar discusses the pros and cons of Bitcoin and gold in the role of stable and reliable money: https://www.morningstar.com.au/credit/article/is-bitcoin-the-new-gold/213325?
- S. Global Investors Chief Investment Officer Frank Holmes discusses the role of gold as a risk diversifier: https://www.usfunds.com/investor-library/frank-talk-a-ceo-blog-by-frank-holmes/gold-is-catching-a-bid-on-pandemic-and-inflation-fears-are-you-participating/#.YP-eQY4zbIW
- Banking industry accounting rule changes can definitely put someone to sleep, but the changes around gold accounting by the biggest banks in the world are worth paying attention to. This article says gold will rise, but don’t expect a straight line or zero discomfort/volatility. Matthew Piepenberg explains why: https://understandingdeeppolitics.org/gold-basel-iiis-trillion-dollar-question/
New Rush Gold feature
You can now have your transactions for the year delivered straight to your inbox!
Use the transactions feature on your Rush Gold app and view a year of gold transactions in just three easy steps.