Page 37 - Bullion World Volume 02 Issue 01 May 2022
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Bullion World | Volume 2 | Issue 01 | May 2022olume 1 | Issue 12 | April 2022
                                                                     Bullion W orld | V

           Despite a Rising Rate Outlook, Investors Are Still

           Attracted to Gold ETFs



           While hedge funds are ditching precious metals ahead of an increasingly hawkish Federal Reserve stance on monetary policy, gold
           continues to gain momentum from increased physical demand and ongoing interest for physical gold-backed exchange-traded
           funds.

           Commodity Futures Trading Commission’s weekly disaggregated Commitments of Traders report for the week ended March 29
           revealed money managers diminished speculative gross long positions in Comex gold futures by 6,103 contracts to 146,486 and
           even raised short positions 727 contracts to 38,184, Kitco reports.

                                                                                      Source: https://www.etftrends.com




                                                                                Chinese Gold
           Uzbekistan becomes the world's

           largest gold seller in February                                      Price Spread

                                                                                Got Squeezed in
           Uzbekistan has become the world's largest gold seller in February, according   March
           to the World Gold Council. Global central bank gold reserves fell by 6 tons in
           February.Uzbekistan decreased its gold reserves by 22 tons to 339 tons – the
           lowest level of gold holdings since December 2020. Even after the sale in   The regional insights published by
                                                                                the World Gold Council (WGC) stated
           February, gold reserves of Uzbekistan still account for 59% of total reserves.  that spread between the local and
                                                                                international prices of gold in China
                                                    Source: https://akipress.com  got squeezed during the month
                                                                                of March this year. The local gold
                                                                                consumption remained subdued,
           London market blocks                                                 as several major cities implemented
                                                                                lockdown measures, following fresh
           newly refined Russian                                                spike in Covid-19 cases in the country.
                                                                                Meantime, the net holdings in Chinese
           platinum and palladium                                               gold exchange traded funds (ETFs)
                                                                                rose in March this year, mainly driven
                                                                                by fall in equity markets. The listing of
           Newly refined Russian platinum and palladium was suspended from trading   three new gold funds in late-March too
           in London, denying access to the metals’ biggest trade hub in the latest in a   contributed to the rise in ETF holdings.
           growing list of measures against Russian interests because of the conflict in
           Ukraine. Prices of palladium surged as much as 11 per cent, with traders fearing   Source: https://www.scrapmonster.com
           the move could worsen a shortage of the metal automakers use in exhaust pipes
           to reduce emissions.

                                                  Source: https://cyprus-mail.com



         Western Australia is the world’s new

         top mining destination


         Resource-rich Western Australia has been picked the most attractive region for mining
         investment in 2021, replacing the US state of Nevada, which fell to the third place
         in the latest annual survey of mining companies released by think-tank the Fraser
         Institute.

         Source: https://www.mining.com/

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