Changes in Gold Demand and Resource Outlook

Tether, a notable buyer of gold for its stablecoin reserves, reported its first reduction in holdings since it began purchasing the metal last year, with its position falling by 3.4 tons in the third quarter. This comes as a broader report highlights a potential long-term shift in global resource market dynamics, driven by increased demand from electrification and energy security.

China Announces Gold Reserve Discovery

China announced the discovery of new gold reserves as part of a national project focused on 17 strategic minerals. The survey, which also found more nickel and rhenium, assessed over 1,800 mines and mining areas across the country.

Gold Market Authority Faces Scrutiny

The London Bullion Market Association (LBMA) is defending its procedures after being accused of showing favoritism toward a specific refiner in a case related to Tanzania. The gold industry's top authority has rejected the allegations, asserting that it has adhered to its established independent process.