Tag Archive: Daily Market Update

Gold To Reach 6 Year High Over $1,400 on Uncertain Outlook for Global Markets

2019-06-11

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2019-06-11

Gold Markets, 2009-2019
Gold is finally gaining the traction needed to boost prices to a level not seen since 2013 as concern mounts over increased trade war tensions and the global growth outlook. Bullion may touch $1,400 an ounce this year as investors hedge risk, according to Rhona O’Connell, head of market analysis for EMEA and Asia regions at INTL FCStone Inc.

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Gold Hits 10 Week High At $1,328/oz as Trade Wars Spur Safe Haven Demand

2019-06-07

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2019-06-07

Gold in USD – 1 week (GoldCore.com)
Gold has consolidated on yesterday’s gains and is marginally higher as risk aversion creeps back into markets. Gold rose 1.5% yesterday to its highest level in more than three months. Concerns that trade wars look set to escalate globally and fears that President Trump’s threat of tariffs on Mexico will hurt the global economy are spurring safe haven demand.

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Gold Investment In Switzerland Remains Very Popular

2019-05-31

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2019-05-31

Switzerland gold demand
Investors in Switzerland like gold and it is the second most popular investment after property or real estate20% plan to invest in gold in the next 12 monthsAlmost two-thirds buy or invest in precious metals at their bank; fewer than one-in-ten buy gold online

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Gold Tops $1,300/oz As Trade Wars Escalate and Increased Risk of U.S. War With Iran

2019-05-15

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2019-05-15

Gold in USD, May 2018 - 2019
Gold sees safe haven demand push it to highest in one month as it breaches key $1,300/oz and £1,000/oz levels. U.S. China trade wars escalates as China retaliates and imposes tariffs on $60 billion of U.S. goods. Increased risk of war in Middle East after U.S. alleges Iran bombed Saudi oil vessels destined for the U.S.

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World’s Central Banks Want More Gold – India May Buy 1.5M Ounces In 2019

2019-04-27

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2019-04-27

Billion Hoard 2009-2018
Royal Bank of India (RBI) may buy another 1.5 million oz this year according to OCBCMany other central banks including large creditor nations Russia and China are also adding to gold holdings. India’s central bank is likely to join counterparts in Russia and China scooping up gold this year, adding to its record holdings and lending support to worldwide gold bullion demand as top economies diversify their reserves.

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SWOT Analysis:Venezuela Sells $400 Million Worth Of Gold Bullion

2019-04-26

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2019-04-26

Unpleasant Surprises, for Gold 2018-2019
The best performing metal this week was palladium, up 3.52 percent as CPM Group noted that the price could climb to $1,800 on supply constraints. Gold traders and analysts switched from bullish to mostly neutral or bearish on the yellow metal this week, according to the weekly Bloomberg survey.

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Brexit and Learning To “Live With Boom and Bust Economic Cycles”

2019-03-30

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2019-03-30

Generations of people have learned to live with boom and bust economic cycles. Years of relative plenty were followed, as night follows day, by grief including high unemployment and forced emigration on a large scale. In fact, if you go back much beyond the late 1960s, it would not be too cynical to say the cycles were often more about going from bust to really busted, as for decades the country was hit by crippling rates of largely enforced...

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Gold Gains On Recession Concerns and ‘No Deal’ Brexit Risks

2019-03-28

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2019-03-28

Gold in GBP (1 Year), 2018-2019
– Gold gains due to concerns about slowing growth, monetary and geopolitical risks – Increasing possibility of ‘No Deal’ Brexit heightens recession risks in UK, Ireland – Brexit uncertainty is impacting UK & Irish economies; Likely do long term damage – UK sees sharp slowdown in mortgage approvals in February as housing market slows – Gold surges to near all time record highs in Australian dollars at $1,860/oz – Gold in sterling, euros and...

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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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