Gold Marginally Lower Despite Oil Collapse; Stocks Fall Sharply

Gold in USD – 3 Days

Gold prices are 1.4% lower today after seeing a 1.5% gain yesterday as traders sought refuge in safe haven gold as oil prices collapsed even further. Year to date in 2020, WTI crude is down 67% and Brent crude is down 73%.

Safe haven demand continues and the oil collapse will intensify this safe haven demand. Oil producing nations and oil and commodity linked currency nations will likely now seek to diversify their foreign exchange reserves and acquire physical gold as will the people in these nations.

The shortage of small and large gold bullion coins and bars continues and may deepen as prices move higher and we enter the next phase of the crisis – a massive economic crisis.
The U.S. Mint suspending gold coin production now along with silver coin production (see below) will exacerbate the strong demand and limited supply challenges and may lead to premiums remaining elevated.

Due to our direct relationships with leading refineries and as Authorised Distributors of government mints, we continue to sell gold bars (1 oz, kilo and 400 oz) and silver bars (1,000 oz) and gold coins including Gold Sovereigns (for immediate delivery) and Britannias (late May delivery) and Gold Nuggets or Kangaroos in volume. Online trading is suspended and you must call our trading trade to order coins and bars for delivery and storage. Our premiums have risen to reflect the rise in wholesale premiums from our mint and refinery partners, but we continue to have some of the most competitive premiums in the world.



NEWS and COMMENTARY

Swiss Gold Exports to U.S. Jump to at Least Eight-Year High: 43.2 tons in March

Gold pares losses as oil rout hammers risk appetite

Price on June US crude futures tumble 30%; May contract falls further into negative territory

European shares tumble on oil crash, dour earnings

Oil crash hits stocks, dollar gains as investors shun risk

U.S. Mint Plant Halts Gold Coin Output Just as Demand Is Surging (see chart below)






“Yes It Will. The Only Question Is When” – WATCH HERE




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

20-Apr-20 1684.95 1686.20, 1349.14 1355.70 & 1547.63 1551.98
17-Apr-20 1693.15 1692.55, 1362.48 1354.04 & 1564.47 1555.79
16-Apr-20 1717.85 1759.50, 1378.57 1382.91 & 1581.45 1589.06
15-Apr-20 1712.25 1718.65, 1367.92 1377.33 & 1566.02 1580.99
14-Apr-20 1715.85 1741.90, 1367.36 1383.07 & 1567.91 1588.26
09-Apr-20 1662.50 1680.65, 1339.48 1348.22 & 1529.00 1538.13
08-Apr-20 1649.05 1647.80, 1328.27 1330.27 & 1517.00 1513.14
07-Apr-20 1652.20 1649.25, 1344.23 1333.75 & 1519.53 1511.21
06-Apr-20 1636.60 1648.30, 1330.72 1341.06 & 1515.49 1526.66
03-Apr-20 1609.75 1613.10, 1310.66 1315.97 & 1490.47 1495.34


Receive Our Award Winning Market Updates In Your Inbox – Sign Up Here

Mark O'Byrne

Also on news-goldcore-com

Videos

Chris Vermeulen on Gold: This Is A Super Cycle At Play

Patrick Karim, Charts and Gold’s Next Breakout

Gold Down $100? This Really Shouldn’t Be A Surprise

Blog posts

Central Banks and Geopolitics to Support Gold In 2024

Gold may not have managed to sustain the record high from the start of the week but it has remained firmly above $2,000. At the time of writing it is trading just below $2,050, a key resistance level. The price has shown very little interest in the usually much anticipated US jobs report, which came […]

READ MORE

Chris Vermeulen on Gold: This Is A Super Cycle At Play

When we woke up to see gold had hit an all-time high overnight we knew we needed to take a look at some charts. And who better to do that with than technical analyst Chris Vermuelen of TechnicalTraders.com.  GoldCore CEO, Dave Russell took some time this afternoon to speak with Chris about what took the […]

READ MORE

Gold Hits Record High: Is This A New Era?

Overnight gold stunned markets by obliterating resistance levels and rocketing up to a new all-time high of $2,148.99.  As well as a new level we might also have seen a new standard in volatility being set as the yellow metal experienced $100 intraday swings.  This morning gold has calmed itself down a bit. But make […]

READ MORE

Featured

The King and Queen will be Gold and Silver

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Chris Vermeulen on Gold: This Is A Super Cycle At Play

Patrick Karim, Charts and Gold’s Next Breakout

Gold Down $100? This Really Shouldn’t Be A Surprise

Blog posts

Central Banks and Geopolitics to Support Gold In 2024

Gold may not have managed to sustain the record high from the start of the week but it has remained firmly above $2,000. At the time of writing it is trading just below $2,050, a key resistance level. The price has shown very little interest in the usually much anticipated US jobs report, which came […]

READ MORE

Chris Vermeulen on Gold: This Is A Super Cycle At Play

When we woke up to see gold had hit an all-time high overnight we knew we needed to take a look at some charts. And who better to do that with than technical analyst Chris Vermuelen of TechnicalTraders.com.  GoldCore CEO, Dave Russell took some time this afternoon to speak with Chris about what took the […]

READ MORE

Gold Hits Record High: Is This A New Era?

Overnight gold stunned markets by obliterating resistance levels and rocketing up to a new all-time high of $2,148.99.  As well as a new level we might also have seen a new standard in volatility being set as the yellow metal experienced $100 intraday swings.  This morning gold has calmed itself down a bit. But make […]

READ MORE

Featured

The King and Queen will be Gold and Silver

READ MORE