Daily Market Update

Gold At $2,000/oz Likely This Year Due To Strong Coin and Bar, ETF and Central Bank Demand

Watch Video Here

IGTV interviewed Mark O’Byrne, Research Director at GoldCore about the outlook for gold and silver bullion.

He is bullish on both precious metals in the medium and long term. The fundamentals are very strong with strong central bank demand and ETF gold holdings reaching an all time record high due to deepening political and economic risks.

Silver at $18/oz and one eightieth of the price of gold is fundamentally undervalued and at some stage it will surge in value to catch up with gold.

There will likely be a global recession and a global financial crisis and this will see gold and silver become valuable hedging and safe haven assets again.

Is Silver the Most Undervalued Asset Today? Watch Video Here



NEWS and COMMENTARY

Gold jumps over 2% as virus spread spurs safe-haven demand

Dow is set to drop 700 points at the open as coronavirus cases outside China surge

Shares drop, gold surges as investors scurry for safety

Fear of coronavirus pandemic grows but China eases curbs as new infections fall

India clarifies size of gold discovery in northern state about 3,000 tonnes of gold to about 160 kilograms

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

21-Feb-20 1633.70 1643.30, 1264.81 1269.12 & 1512.48 1515.29
20-Feb-20 1610.35 1619.00, 1250.11 1258.45 & 1491.99 1496.77
19-Feb-20 1609.50 1604.20, 1239.80 1237.80 & 1490.40 1486.29
18-Feb-20 1588.20 1589.85, 1218.47 1220.37 & 1467.34 1470.77
17-Feb-20 1580.30 1580.80, 1212.41 1215.16 & 1457.04 1458.29
14-Feb-20 1576.35 1581.40, 1209.60 1214.20 & 1453.08 1456.79
13-Feb-20 1575.00 1575.05, 1213.55 1207.59 & 1447.27 1450.94
12-Feb-20 1566.75 1563.70, 1206.55 1206.55 & 1434.83 1434.54
11-Feb-20 1567.70 1570.50, 1212.77 1211.33 & 1436.01 1438.26
10-Feb-20 1574.05 1573.20, 1219.26 1215.93 & 1437.11 1439.64

 


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Mark O'Byrne
Executive Director

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