WASHINGTON – At the U.S.-Africa Business Forum, U.S. International Development Finance Corporation (DFC) announced active commitments across Africa totaling more than $11 billion. This includes $369 million of new active commitments announced as part of the U.S.-Africa Leaders Summit.
Bejet is also a private investor specializing in mining stocks and emerging markets. He is bullish on gold, especially after the big drop in 2022. Gold is also helped by cryptocurrencies, which are no longer crowding out precious metals as an investment alternative.
The International Monetary Fund’s Currency Composition of Foreign Exchange Reserves data for the third quarter of 2022 has revealed another drop in global foreign exchange reserves. The headline number declined by around $500bn in the quarter, taking the cumulative decline to almost $1.5tn since Q3 2021. It is important to note that during the third quarter the dollar appreciated by around 5% on a trade-weighted basis. Since non-dollar reserves are converted to a dollar value for the purpose of the IMF report, that would have been a substantial headwind.
LBMA CEO Ruth Crowell said the new blockchain-based initiative can help to promote “confidence” in the “integrity and accountability” of the gold that is traded.
At the last Fed meeting, the Federal Reserve Open Market Committee (FOMC) projected a 5 percent Fed Funds Rate in 2023.
Despite forecasting a grim year in terms of inflation and interest rates, Wagner, a technical analyst, said that he remains “bullish for gold.”
Central Banks globally have accumulated gold reserves this year at a pace not seen since 1967.
Alongside joint venture agreements, mergers and acquisitions provide a chance for both major and mid-tier mining companies to expand and consolidate their portfolios. Junior explorers with strong mineral assets and solid leadership can present a sound investment opportunity.
According to a myriad of reports, the People’s Republic of China has been buying hoards of gold during the last year. Consequently, World Gold Council (WGC) statistics show the demand for gold by central banks has risen at the fastest pace in 55 years. Meanwhile, Wells Fargo’s head of real asset strategy, John LaForge, contends that when silver starts outperforming gold, it usually signals it is “closer to a bull market in precious metals versus the other way.”
he UAE stock market ended 2022 on a high, posting its highest annual gains in history when it closed for trading on Friday.
As blockchain technology continues to expand its reach, the endless opportunities to revolutionise our world have become evident. From streamlining financial transactions in banking and insurance to improving security for digital assets and smart contracts, this technology is set to transform the way we live.
