For the first time in more than five years, commodity analysts at the U.S. investment bank are bullish on yellow metal prices. Goldman's analysts said signs of an uptick in inflation and the "increased risk" of a stock market correction should both prove to be price supportive for bullion.

In its first meeting with Jay Powell in the chair, the Federal Open Market Committee (FOMC) of the United States Federal Reserve raised the nation’s benchmark interest rate by a quarter-point to a range of 1.5 to 1.75 percent, exactly one point higher than one year ago at this time.

If countries are unable to obtain dollars for their Central Bank reserves, they will have to look for a substitute. And the only substitute will have to be GOLD.

The leadership of the Hungarian National Bank (MNB) has decided to bring back home Hungary’s gold reserves.

Russian Central Bank gold reserves rise to 1,857 tons in january, passing People’s Bank of China’s 1,843 ton gold hoard.

Gold prices climbed nearly 2 percent on Wednesday, rebounding from early losses that followed stronger-than-expected U.S. inflation data, as the dollar surrendered gains and equities swung higher.