Adam Perlaky
Former Senior Analyst, Americas World Gold CouncilGold rose over 4% last week, its largest move in over 3 years
Gold had its largest weekly move to the upside since April 2016 (LBMA 3.4%, XAU 4.3%) continuing its move higher for a fifth straight week–this was likely driven by the US dollar falling sharply (-1.4%) and the price of gold breaking out of the key technical resistance level of $1,365 (discussed in depth on Friday).
Adam Perlaky
Former Senior Analyst, Americas World Gold CouncilGold OTC trading volume is 50% higher this month
With the recent rally, Gold trading volumes have increased significantly in June ($151bn vs ytd average of $115bn), particularly in the LMBA OTC market, which has seen averages increase 50% this month.
Alistair Hewitt
Former Head of Market Intelligence World Gold CouncilTakeaways from the SBMA's annual Asia Pacific Precious Metals Conference
I have spent the past few days at the Singapore Bullion Market Association’s annual Asia Pacific Precious Metals Conference in Singapore. An excellent event with good attendance from across the region, including attendees from Vietnam, Myanmar, Malaysia, Australia, China and India.
Andrew Naylor
Head of Middle East and Public Policy World Gold CouncilGold and Islamic finance
The Islamic finance market is now valued at more than US$2tn and growing at a rapid rate. The association between Islamic finance and gold dates back many centuries but, until recently, Islamic savers were unclear whether they could invest in gold products. In 2016, the AAOIFI Shari’ah Standard on Gold, developed in collaboration with the World Gold Council, provided the clarity that investors needed.
