Daily Market Update

Gold Shorts Suffer Biggest Squeeze Since 1999 As Specs Abandon VIX-Selling Spree

News and Commentary

Gold inches higher as Asian stocks slip (Reuters.com)

Gold Prices Advance on Rise in Dollar (Investing.com)

Govt sets up $100m gold sector fund (Herald.co.zw)

India’s gold imports rise on new duty concerns (Mubasher.info)

Gold markets: Asian stocks, Saudi Arabia, Italy, Brexit in focus (CNBC.com)


The last time gold speculators went from that short with a huge cover was March 1999. Source: ZeroHedge

Gold Shorts Suffer Biggest Squeeze Since 1999 As Specs Abandon VIX-Selling Spree (ZeroHedge.com)

This Is What A Paper Gold Short Squeeze Looks Like (DollarCollapse.com)

Emerging economies stockpiling gold in expectation of US dollar banking system collapse – analysts (RT.com)

Dollar Libor at a 10-Year High Adds to Global Funding Headwinds (Bloomberg.com)

Italian Bonds Don’t Have History on Their Side (Bloomberg.com)

Italy’s Banks at Risk From Widening Spread, League Official Says (Bloomberg.com)

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Gold Prices (LBMA AM)

19 Oct: USD 1,228.25, GBP 942.44 & EUR 1,073.12 per ounce
18 Oct: USD 1,224.60, GBP 933.76 & EUR 1,062.83 per ounce
17 Oct: USD 1,226.75, GBP 933.68 & EUR 1,061.38 per ounce
16 Oct: USD 1,228.85, GBP 931.35 & EUR 1,061.73 per ounce
15 Oct: USD 1,233.00, GBP 937.70 & EUR 1,064.45 per ounce
12 Oct: USD 1,218.75, GBP 922.11 & EUR 1,052.15 per ounce

Silver Prices (LBMA)

19 Oct: USD 14.61, GBP 11.21 & EUR 12.75 per ounce
18 Oct: USD 14.52, GBP 11.06 & EUR 12.60 per ounce
17 Oct: USD 14.65, GBP 11.16 & EUR 12.69 per ounce
16 Oct: USD 14.76, GBP 11.16 & EUR 12.74 per ounce
15 Oct: USD 14.74, GBP 11.19 & EUR 12.71 per ounce
12 Oct: USD 14.60, GBP 11.04 & EUR 12.60 per ounce


Recent Market Updates

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– IMF Issues Dire Warning – ‘Great Depression’ Ahead?
– Poland Raises Gold Holdings to Record High in September – IMF
– Why It’s Worth Holding Gold Bullion in Your Portfolio
– Gold’s Best Day In 2 Years Sees 2.5 Percent Gain As Global Stocks Sell Off – This Week’s Golden Nuggets
– Gold Up 2.5 Percent As Global Stock Rout Spreads To Europe
– “Gold Is On The Cusp” Of An “Explosion Higher” As Stock and Tech “Crash Is Coming”
– Gold Bottoms As Gold Industry Consolidates and Weak Hands Capitulate

Mark O'Byrne
Executive Director

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