Ghana’s Minerals Commission says uncertainties in America could push gold price up-

The Minerals Commission is optimistic uncertainties among the investor communities in America and the United Kingdom in relation to President Donald Trump and Brexit respectively paints a good outlook for gold prices on the world market in the future.

Investors in developed countries such as America and Britain tend to push their funds into gold deposits anytime uncertainties are rife on major stock markets.

In recent times, a similar instance happened during Brexit when investors moved their funds into gold deposits, causing demand to go up, hence prices also increasing.

Speaking to Citi Business News on how Ghana may benefit from such uncertainties this year, the Chief Executive Officer of the Minerals Commission Dr. Toni Aubynn was of the view that the new American president’s policies against foreign businesses are enough to create uncertainties that may increase gold prices.

“America has a new president who is completely a non establishment person. He doesn’t come from the political establishment so people are not sure which direction [policies will turn],which is good. It is good because you can’t always be predicted but for gold it is even better because gold thrives well in situations of uncertainty not in the same country but in other countries,” he observed.

Dr. Aubynn stated that investors are very analytical and risk averse hence will always respond to speculation to secure their investment.

He explained that gold has been a safe investment for investors anytime situations on the stock market get volatile.

He maintained that with the level of anxiety surrounding the Trump administration, investors will always get edgy which may be good for gold since price of the commodity will go up once demand increases.

“When there are uncertainties in America gold benefits, when there uncertainties in Europe gold benefits, when there is Brexit [and] people are unsure, gold benefits. So we hope to take advantage of that. The issue of Brexit is not settled so that creates some uncertainty,” he stressed.

Outlining some positive predictions for the sector, Dr. Aubynn stated that the World Bank has also made some favorable predictions on this year’s good price.

“When it comes to gold prices, I am very careful because you need to have the insight to look deep into the crystal ball before you can make the prediction. However, the World Bank is looking at a positive gold price this year”.

President Trump

President Trump has made some pronouncements targeting high taxes at foreign companies that operate in the US. He has also threatened to impose levies on goods imported from Asia into America. This announcements have caused the investor communities across the world to be edgy.

Credit:citibusinessnews

Publish on Apt

Do you have any Social, informational, educational or entertaining stuff that should be featured on www.aptnewsghana.com?

Please submit your stories, pictures, and videos to us via WhatsApp: +233548388489 or click on the icon on your screen. Alternatively, email us: aptnewsghana@gmail.com

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

  • How solid states beat hard choices - and why the financial sector is implementing all-flash storage (By Sphumelele Ndlovu) September 21, 2021
    Download logoBy Sphumelele Ndlovu We are living through a fourth industrial revolution, led by a mix of emerging technologies. This shift means that financial services providers will have to rethink the way they operate to deliver new value for all stakeholders. Business leaders and ICT experts from Eastern Africa and the globe will convene Sep […]
  • Promoting Inclusive Financial Services to Build a Fully Connected, Digital World (By Li Xianhui) September 21, 2021
    By Li Xianhui, Global Financial Services Business Unit, Huawei Enterprise BG (https://e.Huawei.com) As digital technologies, the Internet, and mobile communications become more integrated with the financial services industry, financial transaction modes and service models are evolving. Digital, mobile, and intelligent financial inclusion have become significant trends. At the 2016 G20 Hangzhou Summit, the concept of […]
  • Unlocking Investments into Africa's Renewable Energy Market September 21, 2021
    Download logoThe African Energy Guarantee Facility (AEGF) is launching a virtual roadshow of free webinars allowing a deeper understanding of risk issues for renewable energy projects on the continent, and conversations around risk mitigation solutions. The first webinar will take place on Thursday, 23 September from 14:30-16:00 hrs. EAT. Please click here (https://bit.ly/3CyCtgo) to register for the […]
  • Partnership for data-driven early response to hunger launched September 21, 2021
    [youtube https://www.youtube.com/watch?v=lMb7HjtAUaU&w=854&h=480]Leading research and humanitarian agencies have joined forces to harness data and technology in a bid to stop climate shocks resulting in hunger in vulnerable livestock farming communities. The Jameel Observatory for Food Security Early Action is being created to help tackle the growing threat to people in the world’s drylands posed by the […]
  • Resilience and recovery: Africa's complex pandemic recovery will be shaped by how its governments respond to innovation in healthcare, mounting debt pressures, and regional insecurity against the geopolitical backdrop of a recalibration of relations with the rest of the world September 21, 2021
    Leading global specialist risk consultancy, Control Risks (www.ControlRisks.com), and Oxford Economics Africa, announced the launch of the sixth edition of their Africa Risk-Reward Index today. The Africa Risk-Reward Index is an authoritative guide for policymakers, business leaders and investors.  The report monitors developments in the investment landscape in major African markets and delivers a grounded, […]
  • Trading robots - how effective are they? September 21, 2021
    Emotional attachment, more commonly referred to as emotional trading, is one of the most detrimental contributors to an online trader's profitability and overall market success. Emotions such as fear, greed, hope and frustration, can cause traders to think irrationally and often result in increased risk and making the wrong trading decisions. It is for this […]
  • Canon partners with the United Nations for the Global Week to #Act4SDGs, to educate and inspire the next generation to become active changemakers September 21, 2021
    Canon (www.Canon-CNA.com), a global provider of imaging technologies and services, is partnering with the United Nations to take part in the Global Week to #Act4SDGs from the 17th – 28th September. Canon will showcase its commitments to the UN’s Sustainable Development Goals (SDGs), as well as featuring in the UN’s ‘Turning Point Dialogue’ interview series […]
  • U.S. Travel Restrictions Lifted; Move Welcomed by Energy Industry September 21, 2021
    The United States will lift restrictions on air travelers from 33 countries from November, the White House announced on Monday. Energy Capital & Power (ECP) (www.EnergyCapitalPower.com), organizer of the U.S.-Africa Energy Forum (USAEF), and the African Energy Chamber, host of the African Energy Week in Cape Town, welcome the news. Current bans on travel from […]
  • Launch of the 2021 Edition of the Africa Risk-Reward Index September 21, 2021
    [youtube https://www.youtube.com/watch?v=_bDT4SlIg7I&w=854&h=480]Leading global specialist risk consultancy, Control Risks, and Oxford Economics Africa, will launch their sixth edition of their Africa Risk-Reward Index. We have a global team of Africa experts available to share their insights and views on Africa’s post-pandemic recovery and the key themes featured in the 2021 report. Distributed by APO Group on […]
  • Saloodo! rolls out new "Closed Shop" feature September 21, 2021
    The logistics start-up Saloodo! (www.Saloodo.com) has integrated a new feature into its freight platform that makes it even easier for shippers to find perfectly matching carriers for their transport needs. With the "Closed Shop" feature, companies can now offer their transport orders to pre-selected transport service providers on demand - worldwide. "At Saloodo! we are […]