- The Dutch Central Bank transferred more than a quarter of its gold held in the US and Canada—86 tons of nearly 313 tons—from New York and Ottawa to London between March and August.
- Gold traded around $4,305 an ounce after falling almost 6% over three sessions, as higher oil prices, rising bond yields and a stronger dollar lifted rate-hike expectations.
- Scorpio Gold shares more than doubled after favorable Phase 2 drill results at its Manhattan District project in Nevada, with trading later resuming after a halt issued in error.
Quotes
“The Dutch Central Bank has shifted more than a quarter of its gold reserves held in the US and Canada to the UK, citing concerns about geopolitical unrest.”
“Gold extended a three-day decline as escalating attacks in the Middle East and concerns about inflation ratcheted up bets on interest rate hikes and pushed bond yields higher.”