Gold Gains 1.5% After ECB Unleashes Bazooka of -0.5% Interest Rate and QE Of €20 Billion A Month

◆ Gold gained 1.7% after the European Central Bank unleashed easy money measures by cutting deposit interest rates and relaunched QE “for as long as necessary”

◆ The ECB moved further into negative rates at -0.5% and will electronically create of €20 billion euros every month to buy bonds; gold rose from €1,362/oz to €1,394/oz prior to giving back gains

◆ Gold has had back to back gains after rising on Wednesday and yesterday but it shed the ECB gains later in the session on fresh hints of progress in the U.S.-China trade dispute

◆ The ECB ‘bazooka’ has increased expectations for a dovish stance from the U.S. central bank at its meeting next week and the Fed is increasingly expected to also revert to quantitative easing and move to negative rates as demanded by President Trump who called Fed officials “boneheads” this week

◆ Palladium sets all-time high on supply angst; record high of $1,621.55/oz; Gold and silver will likely also reach record highs in the coming months

◆ For the week, gold is 0.6% lower and silver is 0.3% lower

 

 

NEWS and COMMENTARY

Gold gains over 1.5% on dovish ECB; eyes on Fed

Gold tallies a back-to-back gain after ECB unleashes basket of easy-money measures

Palladium sets all-time high on supply angst; gold pares gains

U.S. budget deficit passes $1 trillion mark for fiscal 2019

ECB’s new stimulus helps Trump’s bid against the Federal Reserve

Wall Street advances on trade concessions, euro zone stimulus

Stocks gain on report Trump administration weighing interim China trade deal

Reuters exclusive: Morgan’s head of gold trading put on leave amid probe

 

Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)

12-Sep-19 1502.95 1515.20, 1219.94 1227.46 & 1362.88 1373.53
11-Sep-19 1493.65 1490.65, 1208.21 1209.07 & 1354.74 1355.90
10-Sep-19 1494.60 1498.25, 1211.52 1211.34 & 1353.51 1357.11
09-Sep-19 1509.95 1509.20, 1223.81 1220.34 & 1368.62 1364.92
06-Sep-19 1504.95 1523.70, 1223.52 1237.09 & 1363.94 1378.49
05-Sep-19 1542.60 1529.10, 1257.06 1238.72 & 1397.44 1380.78
04-Sep-19 1538.80 1546.10, 1265.05 1269.97 & 1397.69 1403.86
03-Sep-19 1532.45 1537.85, 1278.06 1277.80 & 1400.35 1403.44
02-Sep-19 1523.35 1525.95, 1260.42 1265.01 & 1388.69 1391.51

 


Click here to listen to the latest GoldCore Podcast


Receive our free Daily or Weekly Updates by signing up here and click here to subscribe to GoldCore’s You Tube Channel




Mark O'Byrne

Also on news-goldcore-com

Videos

Tavi Costa- The Fed is Trapped

Silver Market Predictions – Ed Steer Talks about the Silver & Gold Price

Are We In A Financial Bubble? Peter Grandich Interview

Blog posts

Lawrence Lepard – Living in a World with Inflation

Lawrence Lepard Portfolio Manager and advocate of sound money, is our guest on this episode of GoldCore TV. With 40% of money in the US being created in the last 2 years, we ask Lawrence if the Fed is trapped. If so will this mean that it is going to be very difficult for them […]

READ MORE

Supply Chain Crisis Effects on Gold & Silver

The broken chain – could the supply crunch be worse than the oil crunch of the 1970s Anyone that has bought a new or used car in the last year has faced higher prices and long wait times for delivery. This is all because of the very small but essential semiconductor, which is in short […]

READ MORE

This is a Long Term Bullish Pattern for Gold – Gareth Soloway on GoldCore TV

“This is a long term bullish pattern for gold!” – Gareth Soloway Gold In this latest episode of GoldCore TV, Gareth Soloway joins Dave Russell to discuss what what the charts are suggesting for the stock markets, bond markets and #bitcoin. In addition to this he also takes a look at his gold price forecast 2021 and beyond.Gareth identifies the key levels that […]

READ MORE

Featured

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Tavi Costa- The Fed is Trapped

Silver Market Predictions – Ed Steer Talks about the Silver & Gold Price

Are We In A Financial Bubble? Peter Grandich Interview

Blog posts

Lawrence Lepard – Living in a World with Inflation

Lawrence Lepard Portfolio Manager and advocate of sound money, is our guest on this episode of GoldCore TV. With 40% of money in the US being created in the last 2 years, we ask Lawrence if the Fed is trapped. If so will this mean that it is going to be very difficult for them […]

READ MORE

Supply Chain Crisis Effects on Gold & Silver

The broken chain – could the supply crunch be worse than the oil crunch of the 1970s Anyone that has bought a new or used car in the last year has faced higher prices and long wait times for delivery. This is all because of the very small but essential semiconductor, which is in short […]

READ MORE

This is a Long Term Bullish Pattern for Gold – Gareth Soloway on GoldCore TV

“This is a long term bullish pattern for gold!” – Gareth Soloway Gold In this latest episode of GoldCore TV, Gareth Soloway joins Dave Russell to discuss what what the charts are suggesting for the stock markets, bond markets and #bitcoin. In addition to this he also takes a look at his gold price forecast 2021 and beyond.Gareth identifies the key levels that […]

READ MORE

Featured

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE