Bright Future For Gold In Cancer Research
Scientists from the Cancer Research UK/MRC Oxford Institute for Radiation Oncology have discovered how to deploy gold nanoparticles as safe vehicles for a drug that shuts down a molecule called telomerase in the cancer cell – a process that keeps the malignant cell from rejuvenating and growing out of control.
China Demand For Gold Up
In Q1, demand in China for the precious metal grew. This week, gold was up 30% y-o-y – the fourth strongest quarter on record.
There are a number of reasons for the increase including weakness of the yuan, the outlook for the real estate market and an unusual seasonal strength over the Chinese New Year.
Global Gold Sales
Largely because investors stopped pouring money into gold-backed exchange-traded funds, gold slipped to a two-month low of around $1,220 an ounce, according to a new World Gold Council report.
Commercial Banks Developing Their Gold Businesses
Commercial banks are looking at developing their gold businesses. The Bank of China, for example, launched an interest-bearing gold product at the end of 2016.
It is benchmarked on the Shanghai Gold Exchange (SGE)’s AU9999 contract with a minimum entry point of one gram. The product also gives investors the option of withdrawing physical gold through the bank’s branch network.
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