Indonesia plans to set up its own bullion bank

Indonesia, home to one of the world’s largest gold mines, plans to set up a bullion bank to spur trading of the precious metal domestically. The government is consulting with parties including the central bank and the mining industry, with a plan to start operating the bank in 2024, Trade Minister Muhammad Lutfi stated. “Our […]

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As Covid disruptions subside, Fitch forecasts strong gold and copper production growth

Worldwide gold and copper production growth will resume in all earnest following the stop-start nature of covid-19 disruption miners experienced at times during the past 18 months, two new reports by Fitch Country risk and Industry Research show. For gold, Fitch expects production growth in 2021 to achieve its fastest rate in three years. Over the medium-term (2021 to 2025), global […]

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Gold price shows biggest monthly drop since 2016 ahead of US jobs data and hawkish Fed stance

Gold price in India reported its biggest monthly decline since November 2016, as upcoming U.S. jobs data and U.S. Federal Reserve kept investors on the sidelines. On Multi Commodity Exchange, August gold futures were trading flat, below the crucial Rs 47,000-mark, at Rs 46,550. In the previous session, gold futures ended at Rs 46,555 per 10 grams. Silver […]

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