Housing Market Cools as 7% Mortgage Rates Deter Buyers
Mortgage application volume declined 2% last week despite steady interest rates at 7.02%, reflecting continued weakness in housing market demand. Refinancing applications dropped 7% week-over-week, while purchase applications fell 0.4%. Despite ending 2024 on a positive note, current mortgage rates remain significantly higher than last year, limiting opportunities for both new buyers and refinancing homeowners.
Bank of England Gold Queue Grows as US Tariff Fears Drive Market Shift
London’s bullion market is experiencing significant strain as banks rush to borrow gold from central banks following a massive flow of metal to the United States. Over two months, COMEX warehouse stocks increased by 12.2 million ounces (70%), driven by fears of potential US import tariffs. This has led to unprecedented delays at the Bank […]
ECB Expected to Slash Rates to Two-Year Low Amid Economic Concerns
The European Central Bank is expected to reduce its deposit rate from 3% to 2.75%, marking the lowest level in nearly two years, as inflation continues to moderate and economic growth remains sluggish. While inflation stands at 2.4%, above the ECB’s target, it’s projected to decrease to 2.1% this year. The eurozone faces mixed economic […]
Gold Rallies to $2,778 as Fed's Powell Signals Policy Pause
Gold prices advanced to near-record levels around $2,778 per ounce, benefiting from a 0.1% decline in the dollar following the Federal Reserve’s latest policy meeting. The precious metal’s strength comes despite Fed Chair Powell’s hawkish stance, where he emphasized the central bank won’t rush into rate cuts and needs to see further progress on inflation. […]
US Gold Imports from Switzerland Surge 1,100% on Trade Concerns
Swiss gold exports to the United States rose dramatically in December, jumping eleven-fold to 64.2 tons – the highest level since March 2022. The surge, valued at nearly $6 billion, was driven by traders rushing to secure bullion ahead of potential tariffs. The market response was immediate and significant, with Comex gold futures commanding premiums […]
London Gold Reserves Drain as Markets Rush to Beat Trump Tariffs
A shift is occurring in the global gold market as concerns over potential Trump-era tariffs trigger a massive movement of gold from London to New York. The Bank of England, which stores gold for central banks, has seen its processing times for gold withdrawals extend to four weeks from the typical few days, indicating severe […]
Commerzbank Boosts Q1 Gold Target to $2,700
Commerzbank has increased its gold price forecast for the first quarter of 2025, raising it from $2,600 to $2,700 per troy ounce. Despite this near-term bullish adjustment, the bank has kept its year-end 2025 price target unchanged at $2,650 per troy ounce, suggesting they anticipate some moderation in prices after the first quarter.
2025 Silver Forecast: Fifth Year of Deficit as Green Tech Drives Demand
The silver market is expected to maintain a significant deficit for the fifth consecutive year in 2025, driven by record-breaking industrial demand exceeding 700 million ounces. While global demand is expected to hold steady at 1.20 billion ounces, the market shows divergent trends across sectors. Physical investment is forecast to rise 3% in Western markets, […]
LBMA's New Digital Ledger: A Possible Game-Changer for Gold Security
To combat the growing challenges of gold laundering and counterfeiting, the London Bullion Market Association (LBMA) has implemented a groundbreaking digital tracking system. The Gold Bar Integrity Database aims to prevent illicit gold from criminal gangs and conflict zones from infiltrating bank vaults, while also stopping the circulation of counterfeit bars bearing major refineries’ logos. […]
Gold Prices Pause Near Highs as Fed Decision Looms
Gold prices remained relatively stable at $2,758.49 per ounce as markets await the Federal Reserve’s policy decision and commentary on potential March rate cuts. The precious metal’s recent approach to all-time highs, driven by Trump’s calls for lower rates, was tempered by a tech sector sell-off triggered by Chinese AI developments. Investors are particularly focused […]