Gold Nears Record Highs In Euros as Deutsche Falls To New Record Low Showing Bank Contagion Risk


* Gold has consolidated on recent gains this week and has crept higher in all major currencies (see LBMA prices below) and is nearing all time record nominal highs in euros

* Deutsche bank’s new record low at €5.80 underscores German and European banking contagion risk

* FTSE 100 opens slightly higher after trading delay of 90 minutes on trading trading services ‘issue’

* GE falls the most in 11 years after Madoff whistleblower calls it a ‘bigger fraud than Enron’

* Gold prices are marginally lower today but are currently set for another higher weekly close as safe-haven buying continues

* The wider economic, monetary and geopolitical backdrop will support safe haven assets and investors without an allocation to the precious metal should cost average into physical gold



News and Commentary

Gold heads for 3rd weekly gain on trade, growth concerns

Gold to Rise to $1,650 by 2Q 2020: UOB Private Bank

Deutsche Bank’s New Record Low Underscores European Banking’s Decline

German banks are in a much worse position than the rest of Europe – Citi

FTSE 100 opens after trading delay of 90 minutes on trading trading services ‘issue’

GE falls the most in 11 years after Madoff whistleblower calls it a ‘bigger fraud than Enron’

10-year Treasury yield falls to three-year low below 1.5%, 30-year rate declines to record low

Market plunge sheds harsh light on big banks and their derivatives counterparties

Nomura: Yesterday Was A Complete Rout, Raising Odds Of September “Lehman Shock”

“The End Of The World As We Know It” – China Going Nuclear Means There’s No Turning Back Now

Gold has been acting as a safe-haven – Ira Epstein



Gold in USD – Monthly – 10 Years



Listen and Watch Jim Rogers Interview Here


Gold Prices via LBMA (AM/ PM Fix – USD, GBP & EUR)

15-Aug-19 1517.65 1515.65, 1254.49 1250.26 & 1361.48 1363.78
14-Aug-19 1500.35 1513.25, 1241.69 1253.73 & 1341.61 1356.17
13-Aug-19 1527.20 1498.40, 1265.90 1240.38 & 1363.48 1338.67
12-Aug-19 1501.95 1504.70, 1244.82 1243.63 & 1343.64 1341.74
09-Aug-19 1503.50 1497.70, 1242.19 1240.99 & 1342.02 1338.05
08-Aug-19 1497.40 1495.75, 1230.26 1234.14 & 1335.08 1335.70
07-Aug-19 1487.65 1506.05, 1225.82 1239.33 & 1330.11 1341.44
06-Aug-19 1461.85 1465.25, 1199.59 1201.21 & 1304.85 1311.11
05-Aug-19 1457.45 1465.25, 1199.92 1203.85 & 1307.92 1310.23
02-Aug-19 1436.05 1441.75, 1184.17 1187.28 & 1294.02 1298.44


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Mark O'Byrne

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