Daily Market Update

Gold Sanguine as Federal Reserve Raises Discount Rate


Gold went on a strong run which peaked at $1,123.84/oz in US trading before dropping sharply back to $1,100/oz. It began Asian trading $1,105.00/oz before dipping to $1,101.00/oz. It has recovered since and Gold is currently trading at $1,108.00/oz and in Euro and GBP terms, gold is trading at €820/oz and £720/oz respectively.

The US Federal Reserve increased their discount lending rate to 0.75%, the first such move since 2006. Commentators are speculating that this will pave the way to an end to the zero interest rate policy in the States. This move spurred a rally in the dollar pushing the euro to a nine month low below 1.3500. As this was a purely a dollar story gold in dollar terms fell from its overnight highs while remaining steady against the euro and sterling. 


Silver range traded this morning in Asia from $15.75/oz to $15.84/oz and it has moved up since. Silver is currently trading at $15.91/oz, €11.78/oz and £10.34/oz.


Platinum is trading at $1,510/oz and palladium is currently trading at $430/oz. While rhodium is at $2,500/oz.

Find out First – Register Now For GoldCore’s Exclusive Market Updates

Stephen Flood
Chief Executive Officer

I am the CEO of GoldCore. We help investors buy and store gold and silver easily and cost effectively. We work with clients of every variety from wealth family offices to everyday people. We provide the very best market data and client service and we care deeply for our clients interests.


Gold’s Time Is Nigh

Gold and Silver Bullion - News and Commentary Gold little changed amid firm dollar (Reuters.com) Bitcoin Futures Trading Brings Crypto Into Mainstream (Reuters.com) Bitcoin exchange warns customers of system collapse if prices crash (CityAM.com) Investors Told to Brace for Steepest Rate[...]


Gold and Silver Bullion – News and Prices

Gold and Silver Bullion - News and Commentary Asian Stocks Fall as Miners Decline; Yen Gains (Bloomberg.com) Gold prices ease despite slightly weaker dollar (Reuters.com) Bitcoin Hits New All-Time High Above $12,250 (GoldSeek.com) Don’t Expect Gold to Go Wild Next Year[...]


Gold and Silver Bullion – News and Prices

Gold and Silver Bullion - News and Commentary Gold rises on bargain hunting after slumping to over 4-month low (Reuters.com) Dollar Heads for Weekly Gain, Asia Stocks Advance (Bloomberg.com) Platinum’s discount to palladium hits 16-year-high (Reuters.com) Consumer credit accelerated in October[...]