Precious Metals News

July 1st 2022

The GSE listing of the company complements its listing in Canada and Germany.

The basic customs duty on gold, 7.5% until now has now been raised to 12.5%.

The MPC had recently expressed great concern over the recent jump in inflation, which is feared to drag the country into an economic crisis.

Traditionally, gold is considered as a hedge against volatility in the stock market.

Gold has been the second highest export item from Russia after energy in recent years.

Looking ahead, WGC expects retail demand to remain soft in June.

Incidentally, India is ranked fourth in global gold recycling.

The Customs data indicates that Switzerland imported 3.1 tonnes of gold worth approximately $200 million from Russia during the month.

The WGC noted that gold prices remained steady year-to-date, up marginally by 1% in U.S. dollars.

The report indicated heightened fighting over gold deposits involving various ethnic groups.

For Series II of the bonds, the subscription will be open from 22nd August to 26th August. The date of issuance has been fixed as 30th August.

Gold is cheap to store, compared with other assets such as oil and natural gas which requires huge storage costs.

The Chinese gold ETFs recorded outflows during the month.

Nearly 59% of the respondents said that historical position as the highly relevant factor for their organization to continue to hold gold.

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