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Gold Market Commentary Back to Bullion Index Home

Keep up to date with the fluctuations in the precious metals prices and the important news affecting your investments here.

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Gold Market Commentary

B

Bull market

The term bull market - as well as its opposite, bear market - can be used when referring to gold, and is simpler than the terms may make it sound. A bull market is a financial term that refers to any market that is rising over a period of time. …

C

China gold reserves

At the end of January 2020, China's official gold reserves (as reported to the IMF) stood at 62.64 million ounces - just under 1,950 tonnes. Following a couple of years without any reported purchases China has reported two large gold reserve purchases in November and December. This takes China's gold …

F

Fiat currency

A fiat currency is a monetary system in which the value of a nations currency is fixed purely to its exchange rate against other currencies. The term fiat is derived from the Latin 'fieri ', meaning an arbitrary act or government decree. Fiat currency is better known as ‘paper money’, …

G

GOFO

The GOFO refers to the Gold Forward Offered Rate, which is classed as an exchange rate of gold to the US Dollar. What is the GOFO? A simple way to understand the GOFO is that effectively you are securing a loan of US Dollars. Your collateral for this loan is …

Gold demand

Being the key driver of gold prices, many investors take a keen interest in gold demand trends. As a physical commodity, gold is ultimately priced by supply and demand, so understanding gold demand can be a good way to spot buying or selling opportunities. If there is high supply and …

Gold lease rate

The gold lease rate (GLR) is a financial term that refers to the cost or interest rate on a gold-backed loan/swap. Although generally considered a physical safe haven asset, gold is still often traded in the same way as other currencies or assets by large-scale companies. This means that gold …

H

HUI Index

The HUI index is officially known as the New York Stock Exchange (NYSE) Arca Gold BUGS Index. The long-winded name could be longer however, as the BUGS index is itself an acronym for ‘Basket of Unhedged Gold Stock'. The HUI index tracks the performance of a number of companies involved …

M

Monetary Base

Monetary base is a term used in financial markets to measure the amount of money a country has. The monetary base is used as an indicator when setting reserve requirements, interest rates, or applying quantitative easing. It can also be applied more specifically; to a single business, institution, or even …

P

Precious metals

There are 8 elements currently designated as precious metals. These are; gold, silver, platinum, palladium, iridium, osmium, rhodium and ruthenium. A precious metal is typically a rare, metallic element, with a high economic value. Though not synonymous, precious metals are often ‘noble’ metals, meaning that they are less reactive than …

T

The most expensive metal

Many investors ask which is the most expensive metal in the world. Making a list of the most expensive metals is difficult however, and is always subject to change due to the constant fluctuations in each metal's price. The most expensive metals are generally classed as precious metals and/or noble …