Daily Market Update

Bundesbank Buys Gold – Increasing Concerns About Deutsche Bank, European Banks, the Euro and Dollar

Source: Bloomberg

◆ The End Of Fiat In One Chart?

◆ For the first time in 21 years, Germany has openly bought gold into its reserve holdings

◆ With ECB mutiny and Deutsche Bank’s rapid demise, fears are rising of a looming financial crisis, and with that, Germany has shown a renewed interest in gold


◆ Which came after Germany’s stunning announcement in January 2013 that the Bundesbank would repatriate 674 tons of gold from the NY Fed and the French Central Bank

Now that the always conservative Germans are back in the market buying gold, one wonders if the end of fiat is drawing closer

The End Of Fiat In One Chart? via ZeroHedge.com


NEWS and COMMENTARY

Gold holds ground as investors await clarity on Brexit

Gold rises after 3-session slide and creeps back toward $1,500

Bond Defaults Are Highest on Record as India’s Economy Slows

Japan factory activity shrinks at quickest pace since 2016 in October

Fed is sharply increasing the amount of help it is providing to the financial system to $120 billion

New York Fed’s repo loan data disappears



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GOLD PRICES (LBMA – USD, GBP & EUR – AM/ PM Fix)

23-Oct-19 1494.25 1494.45, 1162.53 1159.84 & 1343.78 1343.66
22-Oct-19 1487.45 1485.35, 1149.50 1149.66 & 1335.28 1334.14
21-Oct-19 1490.85 1491.65, 1147.81 1148.27 & 1334.91 1337.12
18-Oct-19 1487.50 1490.00, 1154.15 1155.64 & 1336.67 1337.28
17-Oct-19 1484.45 1492.65, 1151.64 1162.63 & 1336.60 1341.59
16-Oct-19 1482.55 1485.10, 1166.32 1155.85 & 1344.52 1343.27
15-Oct-19 1494.75 1487.80, 1183.69 1178.34 & 1357.08 1353.30
14-Oct-19 1494.20 1490.60, 1188.79 1182.94 & 1354.04 1352.12
11-Oct-19 1498.35 1479.15, 1197.93 1166.01 & 1359.90 1338.33
10-Oct-19 1508.20 1494.80, 1232.35 1222.75 & 1368.69 1356.38

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Mark O'Byrne
Executive Director

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