Gold Climbs to One-Year High as Dollar Weakens on ECB Rate View
Friday,11/03/2016|00:55GMTby
Bloomberg News
Gold advanced to the highest level in a year after the European Central Bank indicated it wouldn’t cut interest...
Gold advanced to the highest level in a year after the European Central Bank indicated it wouldn’t cut interest rates further, boosting the euro and making dollar-denominated bullion less expensive for investors.
Bullion for immediate delivery rose as much as 1 percent to $1,284.64 an ounce, the highest since February 2015, according to Bloomberg generic pricing. The metal, which is up 1.4 percent this week, traded at $1,277.12 by 10:45 a.m. in Singapore.
The euro could have its best week in more than a month against the dollar after ECB President Mario Draghi said more rate reductions probably won’t be needed after policy makers cut the benchmark rate to zero. Draghi also said the recovery in the euro area continues to face hurdles including subdued demand in emerging economies and volatile financial markets. These factors have spurred investors to seek shelter in haven assets and powered gold’s 20 percent surge this year.
“Gold rallied after Draghi’s comment of ‘no need for further interest rate cuts’,” Australia & New Zealand Banking Group Ltd. wrote in a note Friday. “The recent change in policy stance will support financial buying in gold.”
Gold Holdings
Investors resumed building holdings in Exchange -traded funds backed by gold, with assets rising 4.1 metric tons on Wednesday after dropping 1.1 tons the day before. The total stood at 1,728.1 tons, the highest since August 2014, according to data compiled by Bloomberg.
Gold-related Equities rallied on Friday as a gauge of Asian shares fell. Newcrest Mining Ltd., Australia’s biggest gold producer, rose as much as 3.9 percent in Sydney, while Zijin Mining Group Co. surged as much as 7.4 percent in Hong Kong.
The euro strengthened 0.1 percent to $1.1184 against the dollar after surging 1.6 percent on Thursday. The common currency has risen 1.6 percent this week, the most since a 3 percent advance in the period ended Feb. 5.
“Draghi’s comments boosted the euro against the dollar, and prices of precious metals rose,” Maike Futures Co. said. “As the outlook for U.S. rates strengthens after the second quarter, the dollar will have a more solid foundation over the euro. This will gradually weaken the upside momentum of” gold.
Spot silver rose by 0.2 percent, while platinum added 0.4 percent.
To contact the reporter on this story: Jasmine Ng in Singapore at jng299@bloomberg.net. To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net, James Poole
Gold advanced to the highest level in a year after the European Central Bank indicated it wouldn’t cut interest rates further, boosting the euro and making dollar-denominated bullion less expensive for investors.
Bullion for immediate delivery rose as much as 1 percent to $1,284.64 an ounce, the highest since February 2015, according to Bloomberg generic pricing. The metal, which is up 1.4 percent this week, traded at $1,277.12 by 10:45 a.m. in Singapore.
The euro could have its best week in more than a month against the dollar after ECB President Mario Draghi said more rate reductions probably won’t be needed after policy makers cut the benchmark rate to zero. Draghi also said the recovery in the euro area continues to face hurdles including subdued demand in emerging economies and volatile financial markets. These factors have spurred investors to seek shelter in haven assets and powered gold’s 20 percent surge this year.
“Gold rallied after Draghi’s comment of ‘no need for further interest rate cuts’,” Australia & New Zealand Banking Group Ltd. wrote in a note Friday. “The recent change in policy stance will support financial buying in gold.”
Gold Holdings
Investors resumed building holdings in Exchange -traded funds backed by gold, with assets rising 4.1 metric tons on Wednesday after dropping 1.1 tons the day before. The total stood at 1,728.1 tons, the highest since August 2014, according to data compiled by Bloomberg.
Gold-related Equities rallied on Friday as a gauge of Asian shares fell. Newcrest Mining Ltd., Australia’s biggest gold producer, rose as much as 3.9 percent in Sydney, while Zijin Mining Group Co. surged as much as 7.4 percent in Hong Kong.
The euro strengthened 0.1 percent to $1.1184 against the dollar after surging 1.6 percent on Thursday. The common currency has risen 1.6 percent this week, the most since a 3 percent advance in the period ended Feb. 5.
“Draghi’s comments boosted the euro against the dollar, and prices of precious metals rose,” Maike Futures Co. said. “As the outlook for U.S. rates strengthens after the second quarter, the dollar will have a more solid foundation over the euro. This will gradually weaken the upside momentum of” gold.
Spot silver rose by 0.2 percent, while platinum added 0.4 percent.
To contact the reporter on this story: Jasmine Ng in Singapore at jng299@bloomberg.net. To contact the editors responsible for this story: Jason Rogers at jrogers73@bloomberg.net, James Poole
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We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
In this conversation, we speak with Aydin Bonabi, CEO and co-founder of Surveill, a firm focused on fraud detection and AI-driven compliance tools for financial institutions.
We start with Aydin’s view of the Summit and the challenges brokers face as fraud tactics grow more complex. He explains how firms can stay ahead through real-time signals, data patterns, and early-stage detection.
We also talk about AI training and why compliance teams often struggle to keep models accurate, fair, and aligned with regulatory expectations. Aydin breaks down what “good” AI training looks like inside a financial environment, including the importance of clean data, domain expertise, and human oversight.
He closes with a clear message: fraud is scaling, and so must the tools that stop it.
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Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
Finance Magnates met with Paul Margarites, Exness regional commercial director for Sub-Saharan Africa, during a visit to the firm’s office opening in Cape Town. In this talk, led by Andrea Badiola Mateos, Co-CEO at Finance Magnates, Paul shares views on the South African trading space, local user behavior, mobile trends, regulation, team growth, and how Exness plans to grow in more markets across the region. @Exness
Read the article at: https://www.financemagnates.com/thought-leadership/exness-expands-its-presence-in-africa-inside-our-interview-with-paul-margarites/
#exness #financemagnates #exnesstrading #CFDtrading #tradeonline #africanews #capetown
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Executive Interview | Jas Shah | FMLS:25
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
Interview with Jas Shah
Builder | Adviser | Fintech Writer | Product Strategist
In this episode, Jonathan Fine sat down with Jas Shah, one of the most thoughtful voices in global fintech. Known for his work across advisory, product, stablecoins, and his widely read writing, Jas brings a rare combination of industry insight and plain-spoken clarity.
We talk about his first impression of the Summit, the projects that keep him busy today, and how they connect to the stablecoin panel he joined. Jas shares his view on the link between fintech, wealthtech and retail brokers, especially as firms like Revolut, eToro and Trading212 blur long-standing lines in the market.
We also explore what stablecoin adoption might look like for retail investment platforms, including a few product and UX angles that are not obvious at first glance.
To close, Jas explains how he thinks about writing, and how he approaches “shipping” pieces that spark debate across the industry.
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He also discusses the most active pairs, the IB and MIB plans, and hiring needs for new markets.
Watch the whole talk to learn more about how Versus Trade works and where it is heading.
#financemagnates #VersusTrade #TradingPairs #BTCvsGold #goldtrading #innovation
In this interview, Versus Trade Co-Founder Vitalii Bulynin explains how the company got its license fast, why its trading pairs are fresh and fun, and what the team will build next.
He also discusses the most active pairs, the IB and MIB plans, and hiring needs for new markets.
Watch the whole talk to learn more about how Versus Trade works and where it is heading.
#financemagnates #VersusTrade #TradingPairs #BTCvsGold #goldtrading #innovation
Marketing in 2026 Audiences, Costs, and Smarter AI
Marketing in 2026 Audiences, Costs, and Smarter AI
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
As brokers eye B2B business and compete with fintechs and crypto exchanges alike, marketers need to act wisely with often limited budgets. AI can offer scalable solutions, but only if used properly.
Join seasoned marketing executives and specialists as they discuss the main challenges they identify in financial services in 2026 and how they address them.
Attendees of this session will walk away with:
- A nuts-and-bolts account of acquisition costs across platforms and geos
- Analysis of today’s multi-layered audience segments and differences in behaviour
- First-hand account of how global brokers balance consistency and local flavour
- Notes from the field about intelligently using AI and automation in marketing
Speakers:
-Yam Yehoshua, Editor-In-Chief at Finance Magnates
-Federico Paderni, Managing Director for Growth Markets in Europe at X
-Jo Benton, Chief Marketing Officer, Consulting | Fractional CMO
-Itai Levitan, Head of Strategy at investingLive
-Roberto Napolitano, CMO at Innovate Finance
-Tony Cross, Director at Monk Communications
#fmls #fmls25 #fmevents #FintechMarketing #AI #DigitalStrategy #Fintech #Innovation
Connect with us at:
🔗 LinkedIn: / financemagnates-events
👍 Facebook: / financemagnatesevents
📸 Instagram: / fmevents_official
🐦 Twitter: / f_m_events
🎥 TikTok: / fmevents_official
