Gold prices could face further pressure in the coming days as rising US Treasury yields and expectations of additional Federal Reserve rate hikes sap demand for the non-yielding metal.
The London Bullion Market Association will head to London's High Court on October 7 to defend itself against a claim that it owed a duty of care to victims of alleged human rights abuses at Tanzania's North Mara gold mine.
The iron ore trader Radiant World may hold only $10,000 in cash, even though its most recent financial statements refer to cash balances of more than $200 million, lawyers for a Jefferies-linked fund suing Radiant over an alleged fraud said on Thursday.
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.
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.
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.
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.
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.
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.
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 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.
