World Gold Council Reports Q3 Gold Demand Reaches $100 Billion Milestone
Global gold demand hit a record high in Q3 2024, reaching 1,313 tonnes, up 5% year-on-year. The value of gold demand surged 35% to exceed $100 billion for the first time, driven by rising gold prices and renewed interest in gold ETFs. Factors contributing to gold's strength included expectations of falling interest rates, Middle East conflicts, and US election uncertainty.
Gold Hits Record High Price BUT Is SILVER the Buying Opportunity?
Gold has just hit an all-time high of over $2,750 per ounce, shattering predictions and making 2024 a record-breaking year for the precious metal!
Yellen Targets 'Unbanked' Population with New Financial Strategy
Treasury Secretary Janet Yellen has introduced a plan to increase financial inclusion in the United States. The strategy aims to ensure more Americans have access to bank accounts and affordable credit, which Yellen believes will lead to a stronger and more equitable economy. The plan includes encouraging account openings, expanding affordable banking options, improving credit access, and enhancing retirement and emergency savings opportunities.
HSBC Unveils New Gold Token at Hong Kong Fintech Week
HSBC introduced its gold token at Hong Kong Fintech Week, representing the first bank-issued real-world asset token linked to physical gold. Launched in June 2024 for Hong Kong residents, each token equals 0.001 ounces of gold and is based on a private distributed ledger. The token allows for fractional gold ownership, easier buying and selling, and has attracted 20,000 holders, with 90% being new to gold investments.
Hurricanes and Strikes Cloud October Jobs Report, Complicating Fed's Decision
The upcoming October jobs report is expected to show muted employment growth due to the impacts of Hurricanes Helene and Milton, as well as ongoing strikes at Boeing. With estimates ranging widely from job losses to modest gains, the report will be difficult to interpret clearly. This complicates the Federal Reserve's decision-making ahead of its November meeting and adds uncertainty to the economic narrative just before the presidential election.