Goldhub blog: Posts from April 2020
In March, the SHAUPM rose by 1.4% while LBMA Gold Price AM fell slightly as the RMB weakened relative to the USD. Although new COVID-19 infections in China remained near zero in March, concerns for the pandemic’s aftermath on the domestic economy linger.
To curb the spread of COVID-19, the global restrictions have impacted the global gold supply chain, from production to refining. These supply-chain disruptions have impacted both bullion and gold dore’ imports into India.
Recent indications suggest that the coronavirus (COVID-19) outbreak in China appears to be virtually contained. Even though there are still new imported infection cases, China’s reported local infections have remained near zero for a significant period.
In this blog post, read a collection of Tweets from John Reade on gold.
In this webinar, our Chief Market Strategist, John Reade and Chief Investment Strategist at State Street Global Advisors, Michael Arone, discuss the global impact of COVID-19 and whether gold can help manage this unprecedented market volatility.
- The effect of government policies to control the pandemic on the global economy
- Impact of liquidations, fight-to-quality and monetary policy on gold
- Outlook for the remainder of 2020
In February, central banks bought a net 36 tonnes (t) of gold, almost a third higher than January’s net purchases, but 52% lower y-o-y. This brings y-t-d net purchases to 64.5t, 44% lower than the 116.1t of net purchases over the first two months of 2019.