GoldCore Market Update – Financial System Remains Vulnerable One Year After Lehman Brothers Collapse

Gold
Gold is continuing to knock on the $1000/oz door without making a concerted effort either way to test resistance or support. Although there does not seem to be any particular pressure from profit taking, gold needs to push above $1,012/oz in the short term and $1,020/oz in the longer term for the upward momentum to be regained. This should be aided by concerns of a US Chinese trade war as the ugly spectre of protectionism raises its head again. One year after the collapse of Lehman Brothers, concerns remain that the financial system remains vulnerable to excessive risk taking and unforeseen shocks. Gold is currently at $998.40/oz.

Silver
Silver is following the fortunes of gold at the moment and is trading at $16.52/oz.

Platinum group metals
Platinum has stayed above $1,300/oz and is trading at $1,303/oz. Palladium is at $292/oz and rhodium at $1,600/1,700/oz.

Stephen Flood

Stephen Flood is the CEO of GoldCore. He is a former Wall Street equity trader and FinTech expert. He has been involved in the precious metals markets since 2004 and has appeared as an expert contributor on CNBC, CNN, BBC, RTE & Bloomberg TV and has had articles published in the Irish Times, Irish Independent and The Sunday Business Post.

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