Premiums for gold and silver bullion aren't dropping any time soon - LBMA

Canada News News

Premiums for gold and silver bullion aren't dropping any time soon - LBMA
Canada Latest News,Canada Headlines
  • 📰 KitcoNewsNOW
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 78%

gold silver LBMA Premiums for gold and silver bullion aren't dropping any time soon - LBMA

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

Mark Woolley, senior vice president at Brink's Global Services, said that in 2020 at the start of the pandemic, the precious metal sector saw massive imports into New York, with more than 2,550 tonnes of gold delivered between May and April of that year. After two years of market disruptions, China is once again asserting its dominance in the gold market with record imports in the last few months. Woolley said that shipments into China this year should exceed inflows seen in 2018.

Kashyap noted that solid silver demand in India has pushed premiums up 25 cents compared to London market prices. Historically that premium is around five cents. "The number of ounces we move in silver is six times what we moved three years ago, in a normal week, normal month, normal year," he said. As to what is driving retail demand for gold and silver, Hanlon said that investors are looking for safe-haven assets as global uncertainty remains high.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

KitcoNewsNOW /  🏆 13. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Solid physical demand for gold and silver tells you where prices are going in the long term - LBMASolid physical demand for gold and silver tells you where prices are going in the long term - LBMAKitco News' general-interest stories takes a look at what is making headlines in the marketplace and how that is impacting precious metals prices
Read more »

Semafor news site makes its debut intent on reinventing newsSemafor news site makes its debut intent on reinventing newsThe media organization Semafor launches on Tuesday with no less an ambition than reinventing the news story.
Read more »

Gold prices holding solid gains as Empire State Survey fall to -9.1Gold prices holding solid gains as Empire State Survey fall to -9.1(Kitco News) - The gold market is holding on to solid gains trading near session highs after the New York Federal Reserve reported weaker-than-expected activity with the manufacturing sector.
Read more »

Gold resumes its slide amidst stocks' wild rideGold resumes its slide amidst stocks' wild rideKitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Read more »

Stock market volatility signaling a short term bottom?Stock market volatility signaling a short term bottom?Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Read more »



Render Time: 2025-02-16 16:13:46