GoldCore Note
Gold prices look set for their first decline in seven trading days today. Gold fell over 1.1 per cent during Asian trading hours and has remained weak in European trading.
Gold fell as traders took profits on their recent rapid gains. A slight change in the Federal Reserve’s ‘mood music’ with hints that aggressive interest rate cuts may not happen may also have contributed to gold’s pullback as the dollar rose.
Gold has risen in the six previous consecutive trading sessions and gold prices reached a more than six-year high of $1,438.60 on Tuesday. Given the speed and scale of the recent rise in gold, profit taking and a correction was to be expected.
It is gold’s biggest percentage decrease in almost three months and follow through selling will likely be seen.
News and Commentary
Gold “Vulnerable to a Correction in the Short Term … Prior to Month-end” – Goldcore
Gold Hits Six-year High as Investors Head for a Safe Haven to Shelter From the Storm of a Weaker Dollar, Political Tensions and Falling Bond Yields
Gold Soars to Six-year High, Stocks Slide After Powell Speech
Gold Slips After Powell Comment, but Holds at Highest Close Since 2013
Merrill Lynch Fined by Justice Department, Cftc for Spoofing in Precious Metals Futures
‘Rich Dad, Poor Dad’ Robert Kiyosaki on the Looming Market Crash, ‘God’s Money’
Putin’s Move to Gold Bullion is Paying Off – Bershidsky
Gold’s Short Term Binary Event as Trump-xi Are Set to Meet
If History Still Matters, Silver is Poised for a Huge Move
Gold Gets a Boost of Rocket Fuel From Negative Bond Yields
LBMA Gold Prices (AM/ PM Fix – USD, GBP & EUR)
25-Jun-19 1429.55 1431.40, 1120.62 1124.36 & 1255.72 1256.20
24-Jun-19 1405.45 1405.70, 1102.58 1105.30 & 1233.56 1235.05
21-Jun-19 1388.35 1397.15, 1095.96 1101.93 & 1228.55 1233.12
20-Jun-19 1381.65 1379.50, 1086.25 1087.74 & 1222.90 1221.27
19-Jun-19 1342.40 1344.05, 1066.67 1066.64 & 1198.36 1199.43
18-Jun-19 1344.55 1341.35, 1073.22 1070.67 & 1201.89 1198.09
17-Jun-19 1333.20 1341.30, 1059.49 1065.13 & 1188.81 1193.09
14-Jun-19 1352.45 1351.25, 1069.79 1070.33 & 1200.03 1201.80
13-Jun-19 1335.80 1335.90, 1054.21 1052.69 & 1182.85 1184.81
12-Jun-19 1336.65 1332.35, 1049.27 1045.76 & 1179.99 1177.26
11-Jun-19 1322.65 1324.30, 1040.53 1041.30 & 1168.96 1170.42
