Gold

Arbitrage and reflation in the gold market, US presidential election and the global economy

Arbitrage and reflation in the gold market, US presidential election and the global economy

Friday 7 August 2020   –  Vol.11  Ed.32.4

Commentary: Arbitrage and reflation in gold market

By Pierre Ortlieb in London

The global gold market is recording record levels of activity. Gold’s surge is not an inflation worry indicator as some think; bond markets suggest inflationary anxiety is misplaced. Rather, market disruption, US fiscal policy, and the low-rate environment have been driving its performance.

https://www.allaboutshipping.co.uk/2020/08/07/arbitrage-and-reflation-in-the-gold-market-us-presidential-election-and-the-global-economy/

GLOBAL & REGIONAL DAILY (Tuesday 28 July 2020)

GLOBAL & REGIONAL DAILY (Tuesday 28 July 2020)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

July 28 2020

Global Markets

Republican Senate majority leader Mitch McConnell unveiled yesterday a new $1tn fiscal stimulus package which includes, inter alia, an extension of enhanced unemployment benefits. Meanwhile, gold hit a fresh record high close to $1,981/oz earlier today, before abruptly falling back to $1,914/oz.

Greece

According to the Bank of Greece, private sector deposits stood at €148.55 bn in June 2020...

https://www.allaboutshipping.co.uk/2020/07/28/global-regional-daily-tuesday-28-july-2020/

No worries over Portier Extension concrete; Four jailed over Larvotto cocaine offences; UK halts daily death reports… MORE

No worries over Portier Extension concrete; Four jailed over Larvotto cocaine offences; UK halts daily death reports… MORE

Good  Morning Monaco  –  Monday July 20, 2020

Falsified documents were at the centre of a Monaco court case brought against a specialist construction company.

Four men have appeared before the Monaco Criminal Court in connection with the distribution and use of cocaine. The...

https://www.allaboutshipping.co.uk/2020/07/20/no-worries-over-portier-extension-concrete-four-jailed-over-larvotto-cocaine-offences-uk-halts-daily-death-reports-more/

GLOBAL & REGIONAL DAILY (Wednesday, 7 August 2019)

GLOBAL & REGIONAL DAILY

HIGHLIGHTS

August 7, 2019

Global markets

Wall Street rebounded overnight with S&P 500 closing +1.30% higher, following comments from President Trump’s economic advisor Larry Kudlow that the US administration is planning to host a Chinese delegation for trade negotiations in September. Nevertheless, market sentiment remains fragile with investors moving into safe haven assets. Gold surged to a six-year high of $1.491.31 per ounce in Asian trade on Wednesday, while US...

http://www.allaboutshipping.co.uk/2019/08/07/global-regional-daily-wednesday-7-august-2019/

Sobel on unsound dollar intervention, OMFIF appoints new chief executive, and more

USA’s President Donald Trump

Sobel on unsound dollar intervention, OMFIF appoints new chief executive, and more

THE WEEKEND REVIEW 

Latest opinion and analysis from OMFIF around the world

5-19 July 2019, Vol.10 Ed.29

Most-Read Commentary

Trump’s unsound dollar intervention idea:Markets are abuzz with rumours President Donald Trump will order the US Treasury to intervene in foreign exchange markets to weaken the dollar. Intervention is presently unjustified by macroeconomic and market conditions. An...

http://www.allaboutshipping.co.uk/2019/07/20/sobel-on-unsound-dollar-intervention-omfif-appoints-new-chief-executive-and-more/

Towards new ‘de facto’ gold standard, British and German economic and financial diplomacy

Towards new ‘de facto’ gold standard, British and German economic and financial diplomacy

Commentary: Towards new ‘de facto’ gold standard

By Willem Middelkoop in Aerdenhout

China wants to increase in the shortest time possible its gold reserves to at least 8,000 tonnes. This would put the country on par, in terms of the its gold to GDP ratio, with the US and European Union. Should the need arise, this could open the way for a joint US-EU-China gold revaluation to support the financial system....

http://www.allaboutshipping.co.uk/2019/07/18/towards-new-de-facto-gold-standard-british-and-german-economic-and-financial-diplomacy/

Italy must revive sense of direction, Financial market manipulation

Italy must revive sense of direction, Financial market manipulation

Commentary: Italy must revive sense of direction

By Antonio Armellini in Rome

The reversal in relative strength of Italy’s two governing partners, Lega and the Five Star Movement, did not bring greater clarity, as they continue to move along parallel and apparently unconnected tracks. On the one hand, there is a dire economic situation. On the other hand, there is the issue of an early general election, which could at least give...

http://www.allaboutshipping.co.uk/2019/07/02/italy-must-revive-sense-of-direction-financial-market-manipulation/

Election muddies India’s outlook, Rise of central bank gold demand

 Commentary: Election muddies India’s outlook

By Prakash Sakpal in Singapore

Conditions are becoming murky in the lead up to India’s general election in May. Prime Minister Narendra Modi’s popularity is falling, and the losses of his BJP in state assembly and other by-elections dim his prospects for a clear win. The government’s drive to boost growth has shifted economic policies into an expansionary mode.

Last October the RBI moved its policy stance to ‘calibrated tightening’, citing sustained...

http://www.allaboutshipping.co.uk/2019/02/05/election-muddies-indias-outlook-rise-of-central-bank-gold-demand/

Desmond Lachman on US monetary policy, Danae Kyriakopoulou on Banxico independence and more

OMFIF Update  – Week 5 2019

28 January-1 February 2019 Vol.10 Ed.5

REPORT 

The rise of central bank gold demand
Since the 2008 financial crisis there has been renewed interest in gold’s unique characteristics as a safe haven asset that is nobody’s liability.

This, combined with scepticism over prospects for some of the main reserve currencies, as well as heightened geopolitical risks, has amplified gold’s appeal.

Read more.

COMMENTARY PM must push Brexiteers against the wall
Prime...

http://www.allaboutshipping.co.uk/2019/02/02/desmond-lachman-on-us-monetary-policy-danae-kyriakopoulou-on-banxico-independence-and-more/

Hedging inflation with gold, The future of the dollar

Commentary: Hedging inflation with gold

By Aimee Bowkett in London

Gold has fallen out of favour in financial markets, hitting a 19-month low in August. However, it is seen as a good hedge against rising inflation. Since the gold standard was dropped in 1971, no country has seen average inflation below 2% and only 28 have seen it average below 5%.

While the Fed reduces its balance sheet, gold could be particularly attractive as a safe haven against equity market crashes. Importantly though,...

http://www.allaboutshipping.co.uk/2018/10/18/hedging-inflation-with-gold-the-future-of-the-dollar/

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