Gold is looking a lot shinier to investors after its once in a generation plunge in April when it looked like the US Federal Reserve was going to ease its monetary stimulus. Now that the US central bank has said it will maintain its bond buying program at current levels, the surge in gold equities is really picking up. This video highlights several tools in Thomson Reuters Eikon to help you trade gold better, smarter & faster.
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Gold makes up about 1.2% of South Africa’s GDP, with production declining since the early 1990s. Recent strikes have further cut production and higher costs are taking the shine off the higher gold prices. Today’s graphic contains three charts on South Africa’s gold business.
ETFs are seen as the driving force behind the rise in gold prices since 2008, but ETFs only make up around 10% of global gold demand. Jewelry and technological applications make up close to 60% of world demand and emerging markets buy the most gold. Today’s graphic tracks the price of gold and gold demand by sector and region.
Popular beliefs propelled gold to unjustifiably high prices, says Duke University professor Campbell Harvey, who co-wrote “The Golden Dilemma.” Campbell says the arguments to own gold do not hold up to scientific scrutiny and the “real” price of gold is still far below market levels.
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Gold fell to a two-year low and took its biggest ever one-day drop yesterday, contributing to huge losses in gold reserves. Although it rallied slightly today, the recent struggles by commodities have been triggered by weak data from China and the US sparking fresh concerns about the strength of the global economy’s recovery. Today’s graphic tracks the price of gold and the value lost on gold reserves during 2013 for a variety of countries.
Cyprus said that a sale of its gold reserves was among the options for its contribution towards an international bailout, but ultimate responsibility rested with its central bank. Because of this, euro zone nations such as Italy and Portugal could come under pressure to put their bullion reserves to work. Today’s graphic looks at gold reserves as a percentage of debt and GDP for some of the world’s largest economies.
Today the World Gold Council said that global gold demand in 2013 should be led by strength in Chinese demand and a recovery in India. Chinese gold demand is likely to grow around 10% in 2013 from about 800 tonnes this year, helping the precious metal continue its bull run into its 13th year. Today’s graphic looks at global demand for gold as well as demand by sector and the top consuming countries/regions.
With anticipation growing for the London 2012 Olympics, today’s graphic looks at the three big winners from the Beijing 2008 Olympics. The medal recipients were dominated by the world super powers: United States, China and Russia. See which five events each country was most successful in as well as the total number of metals won overall. How do you think these countries will fare in the 2012 London Olympics?
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