Polina Devitt

Trafigura will work with Venezuela's state gold miner Minerven to develop a responsible sourcing ‌programme as part of its pre-payment deal for gold dore, a semi-pure alloy, the Swiss commodity trader said.

Acute volatility ​in gold prices is set to persist in the short term as investors cut risk, ‌with the Iran war boosting inflation fears, curbing bets on interest rate cuts, and weighing on the outlook for global growth, analysts said.

HSBC, one of the world's largest bullion-trading banks, is hiring ​Mark Augustynak, a metals trader at ‌ICBC Standard Bank, to head its global metals trading business, two sources with knowledge of the ​matter told Reuters.

Eurasian Resources Group said on Monday it cut cobalt hydroxide production in the Democratic Republic of Congo in 2025 ​due to an export ban and quota system and plans ‌only a partial recovery this year.

HSBC, one of the world's largest ‌bullion-trading banks, is hiring JPMorgan executive director James Willis to lead its global precious metals sales, four sources with knowledge of the matter told Reuters.

Tether, issuer of the world's largest stablecoin, slowed its purchases of ‌gold for its reserves to back Tether USDT in the first quarter to about 6 metric tons from 27 tons in October-December, its quarterly report showed on Friday.

Expectations for U.S. ​monetary tightening and a strong dollar have taken some wind out of the "perfect storm" powering an upswing in ‌gold since 2023, leaving prices in vulnerable territory around $4,000 per ounce as the interest rate backdrop unfolds.

A record 45% of the reserve managers surveyed by the World Gold Council, up 2 percentage points from a year ago, expect to increase their ​own institutions' gold holdings over the next 12 months, the international organization ‌said on Tuesday.

Gold rose for a third straight session on Wednesday, hitting a one-month ‌peak on a softer dollar and lower oil prices, while investors awaited U.S. jobs data for clues on the interest-rate outlook.

Gold's 9% rebound in August to around $4,400 an ‌ounce suggests bullion is starting to regain favour with institutional investors and central banks, leaving the market better placed to extend gains as it moves beyond the initial shock of the U.S.-Israeli war with Iran.