Tag Archive: Daily Market Update

China Gold Reserves Rise To 60.26 Million Ounces Worth Just $79.5 Billion

2019-03-08

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2019-03-08

Chinese Gold Reserves 2000-2019
China increased its gold reserves for a third straight month in February, data from the People’s Bank of China (PBOC) showed this morning. The value of China’s gold reserves rose slightly to $79.498 billion in February from $79.319 billion at the end of January, as the central bank increased the total amount of gold reserves to 60.260 million fine troy ounces from 59.940 million troy ounces.

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U.S. Mint Suspends Silver Bullion Coin Sales After Sales Double In February

2019-02-28

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2019-02-28

US Mint Silver Eagle Sales, Feb 2018 - Feb 2019
U.S. Mint suspends silver bullion coin sales after sales double in February. Silver investment demand for American Eagles (one ounce) silver bullion coins depletes West Point Mint inventories. U.S. Mint suspended sales of American Eagle (1 oz) coins on Feb. 21 because it had no coins left to sell.

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Gold Prices In Pounds and Euros Gain More as Economic Growth Falters in the UK and EU

2019-02-15

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2019-02-15

Gold in GBP, May 2010 - Feb 2019
Gold prices in pounds and euros as economic growth falters in UK and EU. Euro & pound gold tests multi year resistance; likely to surpass due to strong demand. Improved risk appetite sees stocks rise which may be hampering stronger gains for gold.

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Large Gold Bullion Shipment Moves From London to Dublin Gold Vaults As Brexit Concerns Deepen

2019-02-12

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2019-02-12

-Large Gold Bullion Shipment Moves From London to Dublin Gold Vaults As Brexit Concerns Deepen. – Growing demand from investors to relocate tangible assets out of the UK. – “Zurich continues to be the most sought-after location for storage, but Dublin has already surpassed Hong Kong and will likely usurp the second spot from London”.

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Buy Bitcoin or Gold? Bitcoin Buyers Investing In Gold In 2019

2019-01-30

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2019-01-30

Buy Bitcoin or Gold
Buy bitcoin or gold? Bitcoin buyers are investing in gold in 2019. Poll of 4,000 bitcoin buyers shows their No 1 investment in 2019 is gold. “Gold lost to bitcoin and now it’s going the other way…” says ETF strategist. “Gold is a store of value and there’s no disputing that…”

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Gold Consolidates Above $1,300 After 1.2 percent Gain Last Week

2019-01-29

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2019-01-29

Gold Bar CS 50g
Gold futures settled above $1,300 an ounce on Friday, with prices for the yellow metal at their highest since June as the U.S. dollar pulled back and investors eyed geopolitical turmoil and global growth worries. Rising gold prices reflect “political uncertainty” in the U.S., Eurozone, Venezuela and pockets of South America, as well as China-U.S. trade talks, said George Gero, managing director in RBC.

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Brexit, EU, Germany, China and Yellow Vests In 2019 – Something Wicked This Way Comes

2019-01-23

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2019-01-23

Germany GDP, 2014 - 2018
“Something wicked this way comes” warns John Mauldin. Shaky China: Chinese landing could be harder than expected. Brexit and EU Breakage: “I have long thought the EU will eventually fall apart”. Helpless Europe: If Germany sneezes, their banks & the rest of continent catches cold. We may see “yellow vests” spread globally: Economics is about to get interesting …

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Political Turmoil in UK & US Sees Gold Hit 2 Week High

2019-01-19

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2019-01-19

For first time in over 16 years, palladium futures settle at a premium to gold futures. Gold futures on Wednesday resumed their climb toward the psychologically important price of $1,300 an ounce, settling at their highest in nearly two weeks on the back of political turmoil in the U.K. and U.S.

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Gold Holds Steady Near $1,300/oz As Geopolitical Risks Including Brexit Loom Large

2019-01-17

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2019-01-17

Gold in GBP
Gold Holds Steady Over £1,000 – Increased Likelihood Of A Disorderly Brexit. – Gold supported near $1,300/oz ahead of important British Brexit no-confidence vote. – Gold is consolidating in range between $1,280 and $1,300/oz (over £1,000/oz and €1,100/oz) – A break of resistance at $1,300 will likely see gold rise rapidly in all currencies.

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Gold Outlook 2019: Uncertainty Makes Gold A “Valuable Strategic Asset” – WGC

2019-01-11

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2019-01-11

Gold Outperformed Most Assets In 2018
As we look ahead, we expect that the interplay between market risk and economic growth in 2019 will drive gold demand. And we explore three key trends that we expect will influence its price performance: financial market instability, monetary policy and the US dollar, structural economic reforms.

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Blackrock Say Gold Will Be A “Valuable Portfolio Hedge” In 2019

2019-01-10

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2019-01-10

Gold Futures and ETF Holdings, Jan 2017 - 2019
“We’re experiencing a slowdown,” says Blackrock fund manager. Global Allocation Fund adding to gold exposure through ETFs. Gold “has had a very consistent record of helping mitigate equity risk when volatility is rising”. Gold bullion has been a “store of value for a very long time”.

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China Adds 320,000 Ounces To Gold Reserves – First PBOC Purchase Since October 2016

2019-01-08

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2019-01-08

China Year-End Purchase, Mar 2016 - Dec 2018
China increases gold holdings by large 320,000 ounces. Gold bullion remains a tiny component of the People’s Bank of China massive foreign exchange (FX) reserves which rose to $3.073 trillion. China’s gold reserves rose for first time since October 2016 to 59.56 million ounces by the end of December (1,853 metric tons) from 59.24 million ounces. Gold climbed 5% in December on equity rout, growth concerns

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Gold Prices Likely To Go Higher In 2019 After 4 percent Gain So Far In Q4

2018-12-21

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2018-12-21

Traders Make First Bullish Bet on Gold Since July as Stocks Tumble
Gold traders appear excited about gold again as stocks are on pace for their worst year since 2008, and their worst December since 1931. Bullish bets on the yellow metal outnumbered bearish ones for the week ended December 11, resulting in the first instance of net positive contracts since July, according to Commodity Futures Trading Commission (CFTC) data.

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EU Recession Imminent – Euro Disunion as Brexit, Italy and End of QE Loom

2018-12-13

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2018-12-13

APP Monthly Net Purchases by Program, 2015 - 2018
Someone asked recently how many times I had “crossed the pond” to Europe. I really don’t know. Certainly dozens of times. It’s been several times a year for as long as I remember. That makes me an extremely unusual American. Most of us never visit Europe, except maybe for a rare dream vacation. And that’s okay because our own country is wonderful and has a lifetime of sights to see.

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Gold and Silver Gained 2 percents and 3 percents Last Week While Stocks Dropped Nearly 5 percents

2018-12-11

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2018-12-11

Gold Silver Stocks
Gold acted as a safe haven last week and is again acting as a safe haven in December. It has performed well despite the rout in stocks in Ireland and globally. U.S. stocks including the S&P500 and Nasdaq were down nearly 5% last week, while gold was 2% higher and silver over 3% higher.

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Pound Falls 2.5 percent Against Gold as UK Government in Turmoil Over Brexit

2018-11-16

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2018-11-16

Gold in GBP (24 Hours)
The pound plunged against the euro, the dollar, gold and all leading currencies today as Theresa May’s UK government appeared vulnerable to collapsing and political turmoil risked creating a hard Brexit. The pound has fallen 2.6% against gold in less than twenty four hours seeing gold rise from £923 to £947 per ounce in sterling terms.

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Gold ETFs See Strong Demand In Volatile October After Robust Global Gold Demand In Q3

2018-11-08

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2018-11-08

GDT Q3 2018
Gold ETFs saw inflows in volatile October as investors again hedged risk. Gold ETFs see demand of 16.5 tonnes(t) in October to total of 2,346t, the equivalent of US$1B in inflows. Global gold demand was robust in Q3 – demand of 964.3 tonnes – plus 6.2t yoy.

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Gold Analysts At LBMA See 25percent Return To $1,532/oz In 12 months

2018-11-01

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2018-11-01

Gold in USD (10 Years)
The price of gold is expected to rise to $1,532 an ounce by October next year, delegates to the London Bullion Market Association’s (LBMA) annual gathering predicted on Tuesday. A poll of delegates at the LBMA conference in Boston also predicted higher prices in a year’s time for silver, platinum and palladium.

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Perth Mint’s Gold and Silver Bullion Coin Sales Soar In September

2018-10-06

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2018-10-06

Sales of gold products by the Perth Mint surged in September to their highest since January 2017, while silver sales more than doubled from August to mark an over two-year peak, boosted by lower bullion prices, the mint said on Wednesday.

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Central Banks Positivity Towards Gold Will Provide Long Term “Support To Gold Prices”

2018-09-28

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2018-09-28

Central Bank Gold Reserves, Q1 2000 - Q1 2018
– There has been a recent change for the better in central bank attitudes to gold. – There has been “net gold demand by central banks – approx. 500 tonnes per year – as a source of return, liquidity and diversification”. –  Policy shift to maintaining stable gold holdings reflects central bank concerns about financial markets and geopolitics. – Little in the current global economic and political environment to support any reason to change in this...

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