By PIA CHAUHAN
Nearly a quarterof central banks are looking toincrease gold reserves this year, spurred on by geopolitical worries, interest rate concerns and rising inflation pressures.
By PIA CHAUHAN
Nearly a quarterof central banks are looking toincrease gold reserves this year, spurred on by geopolitical worries, interest rate concerns and rising inflation pressures.
Gold has been one of the best-performing asset classes both year-to-date and since 2019. The precious metal has risen by a third since the start of last year, while its 11.8% gain during a risk-off 2020 has only been beaten by the 30-year US Treasury.
Gold Silver Reports (GSR) – Spot Gold jumped in style, breaking above $1400 per ounce and hitting nearly 18 month highs as global equities edged up amid cautious trade.
New York Fed President John Williams on Tuesday said he was comfortable with the level U.S. interest rates are at now, and sees no need to raise them again unless growth or inflation shift to an unexpectedly higher gear.
Gold Silver Reports (GSR) — Analysts will likely look out for comments from Draghi on the ECB’s outlook for economic growth and inflation, as well as details on the central bank’s reinvestment plans for maturing bonds.
Advanced economies are now emerging from the aftermath of the great financial crisis. Despite facing the largest shock in the postwar period, central banks have succeeded in maintaining price stability and fulfilling their mandates.
European Central Bank President Mario Draghi is speaking at a press conference Thursday following the institution’s decision to leave its benchmark interest rate unchanged.
Gold Silver Reports (GSR) – At today’s meeting the Governing Council of the European Central Bank (ECB) decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively.