Most central banks’ largest percentage of reserves are US dollars, which usually come in the form of US Treasury bonds. It would make sense for some of the central banks, especially China, to decide to depend less on the dollar.
When I recently went to talk to some school children about the nature of money, I brought props: a cowrie shell, a piece of play paper and a small handful of shredded dollar bills. Which of these, I asked, is money?
A joint venture created by a new partnership between the Democratic Republic of Congo (DRC) and the United Arab Emirates (UAE) with a view to ending the illicit movement of precious metals from the DRC has just made its shipment of “fair gold”.
The US department of state released a signed Memorandum of Understanding with the Democratic Republic of Congo and Zambia on electric vehicle battery value chains. The document was signed on December 13, 2022, during the Africa Leaders Summit and states DRC and Zambia’s involvement in the production of Electric Vehicle batteries.
The gold market is seeing a strong rally during the first month of the year, driven by the changing macro outlook, geopolitical tensions, and increased demand.
According to WGC, the US became the largest market for Indian gold jewellery due to additional tariffs on Chinese jewellery to the US, which made the Indian exporters more competitive.
Dubai: Global trade flows and supply chains have just bout managed to emerge from the long shadow of the Covid crisis. Even now, key commodities are still some months away from heading back to normalcy. (For confirmation, just ask carmakers about semiconductor supplies they need for all their fancy models.)
Gold investors have been doing a lot of “soul-searching” for the last two and a half years. But gold as an asset will take an important place in portfolios in the next three years, according to Bank of America.
When I recently went to talk to some school children about the nature of money, I brought props: a cowrie shell, a piece of play paper and a small handful of shredded dollar bills. Which of these, I asked, is money?
Dubai: Malabar Gold & Diamonds will oversee all of its non-India operations from a new base at Dubai’s Gold Souk Extension in Deira.
