◆ Gold bullion appears set for the biggest quarterly advance since 2016 amid a surge in demand for gold bullion and other safe haven assets due to the ongoing coronavirus outbreak and economic lockdowns, which show little signs of abating.
Gold bullion has gradually eked out a 17% gain in dollars so far in 2020 as risk assets, especially stock markets, fall sharply. Gold has gained nearly 18% in euros and by 25% in British pounds as the UK economy has the worst contraction since 1979.
Gold is now the top performing asset in the world as the health crisis prompts a wave of stimulus, fiscal spending and bail outs from governments and central banks as they desperately tried to minimize the damage to an already very fragile global economy.
Investors also continue to diversify into gold bullion coins and bars in vaults globally and into gold backed exchange traded funds (ETFs), with holdings at a record.
NEWS and COMMENTARY
Gold Heads for Biggest Quarterly Gain Since 2016
Gold poised for best quarter in 4 years as virus fears persist
UK economy hit worse than first thought – Worst GDP fall since 1979
Treasury yields retreat as Fed’s Powell stresses uncertainty and coronavirus cases surge
China’s counterfeit gold scandal in Wuhan may lead to a surge in demand for real gold bars
Buy Gold, Sell Stocks Is the ‘Trade of Century – Top Hedge Fund
Own gold coins and bars in the safest vaults in Zurich, Switzerland with GoldCore. Learn why Switzerland remains a safe haven jurisdiction for owning precious metals. Access Our Most Popular Guide, the Essential Guide to Storing Gold in Switzerland here
GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)
29-Jun-20 1768.80 1771.60, 1434.67 1440.31 & 1571.23 1573.54
26-Jun-20 1762.10 1747.60, 1420.61 1414.51 & 1570.03 1559.91
25-Jun-20 1758.55 1756.55, 1412.64 1414.73 & 1565.29 1565.79
24-Jun-20 1775.70 1766.05, 1420.74 1416.90 & 1573.63 1567.55
23-Jun-20 1755.60 1768.90, 1409.85 1416.36 & 1556.17 1560.70
22-Jun-20 1745.45 1761.85, 1405.26 1418.11 & 1555.72 1567.17
19-Jun-20 1728.55 1734.75, 1392.17 1401.16 & 1541.18 1545.49
18-Jun-20 1732.65 1719.50, 1384.73 1383.51 & 1539.29 1532.93
17-Jun-20 1717.30 1724.35, 1368.69 1375.17 & 1527.88 1537.26
16-Jun-20 1728.35 1719.85, 1366.61 1361.78 & 1525.44 1526.54
15-Jun-20 1710.40 1710.45, 1365.58 1361.52 & 1520.72 1516.83
12-Jun-20 1735.85 1733.50, 1374.10 1378.13 & 1533.28 1534.15
11-Jun-20 1731.90 1738.25, 1361.79 1373.74 & 1519.57 1528.10
Access Latest Goldnomics Podcast (Part II) Here
