London, UK –News Direct– HANetf Holdings Limited

AuAg Funds founder and CEO Eric Strand joins Proactive’s Stephen Gunnion with the latest developments affecting the gold price and gold miners included in the AuAg ESG Gold Mining UCITS ETF.

Strand said gold prices near all-time highs is very advantageous for gold miners, despite a historical lag in their response to gold price increases. The costs for miners have stabilized while gold prices are rising, promising improved profitability. Strand emphasizes the leverage effect in gold mining, where a 20% increase in gold price could result in a 40% gain for gold miners, attributing this to the net return difference between gold prices and operational costs.

Furthermore, he highlighted gold miners as undervalued, both in relation to gold and historically against the S&P 500. The current market dynamics, with strong holdings and reduced retail investor presence, present a ripe opportunity for valuation adjustments. Strand also notes a trend towards shareholder-friendly practices among miners, including reduced debt and cautious project investments, potentially avoiding past mistakes.

Consolidation activities within the sector are acknowledged, with a preference for acquiring known entities over costly exploration. The mid-sized companies are viewed as prime targets for larger firms, indicating a dynamic market.

Lastly, Strand projects a 20% rise in gold prices for the year, targeting nearly $2,500 by year-end, driven by anticipated lower interest rates and the sustaining momentum above $2100, which fosters a positive outlook for continued investment in gold.

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• The U.S. dollar has been a fiat currency for more than 50 years, which in historical terms might mean its lifespan has nearly expired.
• Fiat currencies (U.S. dollar) only retain their purchasing power as long as they retain the confidence of the people.
• In 2023, China moved into the top spot over India as the world’s largest gold jewelry buyer, purchasing 603 tons.
• “Dilution” rather “inflation” more accurately describes the value of money.

Gold has been termed the eternal commodity. With gold prices steadying over the US$2,000 an ounce level, we asked business writer and market analyst Jeff Nielson in a recent podcast if now is a good time to buy gold.

Nielson shares his expertise alongside important aspects on the history of gold that present a case for the eternal value of gold today.

We dive into “no joke” buying of gold by the central bank, the concept of dilution vs. inflation, the nearly expired lifespan of the U.S. dollar, and how all of these factors prime now as an opportune time for investing in gold.

Nielson points to the central banks as the culprits in the “diluted” currency epidemic. The bank continues to print new quantities of paper currencies at increasing rates, diluting the value of the currency. “They want to play role of heroes”, Neilson says, “When they are the ones that created the problem.”

In addition, he says the U.S. dollar has been a fiat currency for more than 50 years, which in historical terms might mean its lifespan is nearly expired. As well, “The U.S. dollar already lost 98 per cent of its value versus gold,” Nielson says, adding “The last 2 per cent is not going to take 50 years, or 10, it may only take five years, and then these currencies become worthless.”

To dive deeper, check out the podcast and The Market Online’s, “Why gold is a best buy in early 2024” Thematic Insights report.

For more trending gold stories, check out Stockhouse’s gold page. For additional information on increasing the gold in your portfolio, check out more conversations with Gwen Preston at VRIC and about where the gold growth in Canada is focused.

As well, check out The Market Herald’s 2023 Thematica Gold Report.

At the close Thursday, gold was trading at a little more than US$2,157.02 an ounce.

Join the discussion: Find out what everybody’s saying about gold stocks, public companies and other hot topics about the markets at Stockhouse’s stock forums and message boards.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

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first published: March 08, 2024, 11:10 IST

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KATHMANDU, March 8: The price of gold has remained stagnant today. 

The price of fine gold has remained constant at Rs 125,000 per tola on Friday. It was traded at Rs 123,500 per tola on Wednesday. The price rose to Rs 125,000 per tola on Thursday.

Similarly, the price of standard gold is maintained at Rs 124,400 per tola today.

Furthermore, the rate of silver has also remained stagnant at Rs 1,470 per tola on Friday.

24K bullion and ring prices respectively surged 0.37% to VND81.25 million (US$3,290) and 0.29% to VND68 million per tael at noon on Thursday, and at that time the Saigon Jewelry Company (SJC) store on Nguyen Thi Minh Khai Street in HCMC’s District 3 was filled with customers.

Hanh of District 5 said he prefers to keep his money in gold instead of a bank account.

He usually buys bullion but decided to switch to gold rings since the government has floated the idea of abolishing SJC’s bullion monopoly.

Buying gold is his way of accumulating wealth in the long term, and so prices do not bother him, he said.

A buyer from Tra Vinh Province said she told her son to go to an SJC store to sell the 10 taels of gold bars she had been saving for years and buy gold rings.

“They have the same purity, yet gold rings are much cheaper than gold bars, and so I switched to that. For me, gold is still better than deposits for wealth preservation.”

An SJC store employee said there has been a rush to buy rings in the past few days, and the store is running out of stock.

“This has never happened before.”

Other jewelry brands like DOJI and PNJ do not usually keep large stocks of 24K gold rings, and so they quickly ran out as demand soared.

On Thursday morning a PNJ store in District 5 only had 10 two-tael gold rings left and a customer came in and bought all of them, an employee recounted.

“The entire [PNJ] chain is low on supply and it is unclear when stocks will be replenished. So we currently prioritize selling to buyers who place orders in advance.”

A DOJI store in the same district received 200 taels of gold rings in the morning and sold the entire lot by afternoon, with one customer buying 135 taels.

Traditionally 24K gold rings are bought as gifts despite the fact they have the same purity as bars.

They have become popular ever since Prime Minister Pham Minh Chinh announced recently plans to narrow the gap between Vietnamese and international bullion gold prices.

As of Friday morning, SJC 24K gold ring prices has increased to VND68.3 million per tael, while bullion slid to VND81.5 million.

The price of 24-carat gold appreciated Rs 10 in early trade on Friday, with ten grams of the precious metal trading at Rs 65,570, according to the GoodReturns website. The price of silver also climbed up by Rs 100, with one kilogram of the precious metal selling at Rs 75,100.

The price of 22-carat gold also jumped Rs 10 with the yellow metal selling at Rs 60,110.

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The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 65,570.

In Delhi, Bengaluru, and Chennai, the price of ten grams of 24-carat gold stood at Rs 65,720, Rs 65,570, and Rs 66,450, respectively.

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 60,110.

In Delhi, Bengaluru, and Chennai, ten grams of 22-carat gold are selling at Rs 60,260, Rs 60,110, and Rs 60,910, respectively.

The price of silver in Delhi, Mumbai, and Kolkata are the same at Rs 75,100 per kilogram.

US gold prices on Friday were on track for their biggest weekly jump in five months, hovering near a record peak, as Federal Reserve Chair Jerome Powell’s comments reinforced investor hopes for a first US rate cut in June.

Spot gold was steady at $2,159.49 per ounce, as of 0120 GMT, hovering around a record peak of $2,164.09 hit in the previous session.

Powell said the US central bank was “not far” from gaining the confidence it needs in falling inflation to begin cutting interest rates, which are likely to happen in the coming months.

Gold prices continue to advance trading to a new record close today with one notable exception: gains over the last two days have been primarily driven by dollar weakness rather than buying.

Today Chairman Powell concluded his two-day semiannual testimony to both the House (yesterday) and the Senate. Although the chairman continued to keep the timing of the first rate cut close to his chest, he offered subtle references to the Senate today alluding to the fact that, “I think were in the right place” about the timing of the first rate cut as the Fed readies itself to pivot its monetary policy from restrictive to accommodative. This will be accomplished by the Fed cutting its benchmark interest rate for the first time since raising them starting back in March 2022.

The Chairman said that inflation is “not far” from where it needs to be for the central bank to initiate its first rate cut. Which is more information than he offered in his testimony yesterday to the House Financial Services Committee. In his remarks today to the Senate Banking Committee, Powell subtly suggested that interest rate cuts may not be too far off if inflation signals cooperate.

When asked to respond to rate cuts and inflation, his answer to the Senate was, “We’re waiting to become more confident that inflation is moving sustainably at 2%. When we do get that confidence, and we’re not far from it, it’ll be appropriate to begin to dial back the level of restriction,”

The key takeaway from Powell’s testimony today was that the leader of the central bank still did not provide any precise timetable as to when the Fed believes they will pivot and initiate their first rate cut. The only veiled reference to the timing of the first rate cut today came in a statement, in which he said that interest rate easing could be coming soon. 

Gold has now risen for the seventh consecutive day marked by higher highs, higher lows, and higher closes, with one notable exception over the last two trading days. During the first five trading days of this rally gains in gold were primarily driven by market participants with neither dollar strength nor weakness having a notable influence on the net change in gold. However, over the last two days, the rise in gold prices has been primarily driven by dollar weakness. 

Yesterday dollar weakness accounted for a little less than half of the net gain, and today dollar weakness accounted for all of gold’s gains.

As of 5:00 PM ET, the dollar is in its second day of strong declines. Today the dollar is down 0.53% taking the index to 102.77. When compared to gains in gold futures which gained 0.5% it is easy to derive the fact that today’s gains were 100% the net result of dollar weakness because the dollar declined slightly more than gold gained.

Currently, the most active April contract of gold futures is fixed at $2167.40 up $10.70 (+0.50%). While gold continues to drive to new record pricing, the most notable aspect of gains over the last two days is that gold’s gains over the last two days are based on dollar weakness rather than speculative buying. This is a notable change from what occurred during the first five days of gold’s current price advance. 

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Wishing you as always good trading,

Back in Aotearoa following farewell shows last year, Tess Liautaud today shares new alt-country twanger ‘Gold Digger‘ along with the announcement of a full-scale single release tour. Her new song is a dazedly overdriven gat-filled tune with a humorous but cautionary narrative, filmed by Jessie Shanks (The Eastern) and Gina Johns. The accompanying video depicts the Franco-American songwriter swaggering into a bar and kicking up the hay with her attitude at the Arthur’s Pass and the Otira Stagecoach Hotel — featuring trusty regular stage partner Adam Hattaway. Liautaud wrote ‘Gold Digger’ while in Otago, imagining a tune in the lighthearted but open style of the late US artist John Prine. She will be embarking on a twelve-date tour with band in celebration of her fresh track from May, probably sinking holes with her band at the pool table at the wild mix of bars across our motu. This Sunday, however, Liautaud will treat those in the loop to a private location show with full band, kai and inu. Order up…

Tess Liautaud – Gold Digger Tour

Thursday 2nd May –  Common Ground, Featherston
Friday 3rd May – Rogue & Vagabond, Wellington
Saturday 4th May – Wine Cellar, Auckland*
Wednesday 15th May – Blue Door, Arrowtown
Thursday 16th May – Rhyme & Reason, Wanaka*
Friday 17th May – Peace Memorial Hall, Ophir*
Saturday 18th May – Grainstore Gallery, Oamaru*
Sunday 19th May – Dunedin Folk Club, Dunedin
Friday 24th May – Pigeon Bay Social Club, Pigeon Bay*
Saturday 25th May – Lyttelton / Wunderbar*
Friday 31st May- The Playhouse, Mapua*
Saturday 1st June – Mussel Inn, Onekaka

*Tickets are available HERE via UTR

‘Gold Digger’ is out today on major streaming platforms.

Hyderabad: Out-dazzling itself with every passing day, gold scored a hat-trick of sorts on Thursday. The yellow metal’s price in the international market vaulted to yet another record high for the third straight day at $2,165-per-ounce, propelled mainly by US Federal Reserve chair Jeremy Powell’s dovish stance on interest rates. Historically, interest rates in the US and gold prices have had an inverse relationship.Following global cues, gold prices in the domestic market also surged to a new life-high level at Rs 65,587 per 10gm for 24K (995 purity for April contract) on MCX during the day.In the local market for physical gold bars, the price of the precious metal jumped by around Rs 500 and was quoting at around Rs 65,650 (pre-tax) and Rs 67,270 (including GST). In Delhi’s market, it was quoted marginally lower.“Gold continued its upward march after US Fed chief Jerome Powell reiterated that the US central bank will most likely lower interest rates later this year. Weak US economic data and banking jitters all together pushed the US dollar and bond yields to a multi-week low, helping gold prices rally more than 3% so far this week,” said Saumil Gandhi, senior analyst-commodities, HDFC Securities.The northward march for the yellow metal is not expected to halt soon, feels Gandhi. He said that from a technical standpoint, the bullish trend is likely to continue as gold prices broke the previous resistance and are now in new territory. “Comex gold now has immediate resistance at $2,180/$2,200 level and support at $2,119/$2,094 level,” he said.

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Gold prices in Delhi reached a lifetime high of Rs 65,650 per 10 grams, influenced by international markets. Silver prices also rose. The Federal Reserve Chair, Jerome Powell, reiterated potential rate cuts by the US central bank. Analysts predict that gold prices will be influenced by upcoming US CPI data and non-farm payroll and unemployment data.

US stocks rise on rate hopes as gold hits record high

US and European stock markets rose on rate cut expectations. Gold reached record heights. Bitcoin eased. World oil prices gained on strong US energy demand. Tight supplies, risk appetite, and tangible evidence influenced market participants and equity markets.

Mining and industrials gains pushed Canada’s main stock index higher on Thursday though the telecom sector was the only drag on the TSX. Traders assessed another day of Federal Reserve Chairman Jerome Powell’s congressional testimony and U.S. economic data. Spot gold hit a new all-time high during trading.

U.S. stocks scored another win across the board as major averages posted their second winning session in three days after Wall Street’s worst day in three weeks earlier this week.

The Canadian dollar traded for 74.27 cents compared with 73.96 cents U.S. on Wednesday.

U.S. crude futures traded $0.24 lower at $78.89 a barrel, and the Brent contract lost $0.17 to $82.79 a barrel.

The price of gold was up US$11.68 to US$2,159.40.

In world markets, the Nikkei was down 492.07 points to 39,598.71, the Hang Seng was down 208.31 points to 16,229.78, the FTSE was up 14.69 points to 7,694.00, and the DAX was up 126.14 points to 17,842.85.

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The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

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