GoldCore Precious Metals Update

Gold
Gold is holding firm this morning at $951.30/oz. China’s massive stock market falls yesterday may have created safe haven demand for gold overnight. Tomorrow sees the release of Swiss GDP data, German unemployment figures and UK Purchasing Managers Index data, which are not expected to be startling either way but which are likely to be imbued with negativity. This data, coupled with sterling weakness and the overall turmoil, has some investors playing a waiting game on preferred entry points to buy gold, which has the potential for an exceptional September. Others wary of missing the rally or throwing the towel in and buying in anticipation of the traditional strong autumnal period. In the short term, gold will need to break through $955/oz in order to rechallenge the $970/oz level and the psychological $1,000/oz level.

Silver
Silver has de-coupled slightly from gold and is showing a strong bullish sentiment. It touched $15/oz this morning and will need to break through that again for it to challenge resistance at the $16/oz level. Silver is currently trading at $14.88/oz.

Platinum Group Metals
The National Union of Mineworkers and Impala Platinum have agreed to further talks to try and settle the wage dispute. If these talks break down there could be the possibility of a cessation of production in the world’s largest platinum producer. With this in mind, there is good demand for platinum with nearly 500kg being turned over on the Shanghai Gold Exchange last night. It is currently trading at $1,245/oz. Palladium is currently $292/oz and rhodium $1,575/$1,675/oz.

Mark OByrne

Also on news-goldcore-com

Videos

Exclusive preview of interview with Rick Rule

Ed Steer Gold And Silver – We Ain’t Seen Nothing Yet!

Episode 5 of The M3 Report with Steve St Angelo

Blog posts

Exclusive preview of interview with Rick Rule

What do: Ron Paul Mike Tyson  A fart in an elevator  President Paul Kagame of Rwanda …have in common? They are all featured in this week’s The M3 Report, your show for all things Metals, Markets and Money. This is our sixth episode of the hit show. Subscribe now, to be sure not to miss it.  […]

READ MORE

Ed Steer Gold And Silver – We Ain’t Seen Nothing Yet!

Our guest this week is Ed Steer, expert gold and market analyst and author of the Gold & Silver Digest. We invited Ed onto GoldCore TV to get his take on what is concerning him most in financial markets, movements in SLV and sanctions against Russia. He also draws our attention to central bank purchases […]

READ MORE

Ross Geller inspires Bank of England policy

This morning the UK pound slumped as one of the world’s oldest central banks pressed hard on the panic button. The Bank of England was seen to be shouting ‘Pivot! Pivot! Pivaat!’ as they announced they would temporarily suspend their programme to sell gilts and will instead buy long-dated bonds.  In a statement, the bank […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Exclusive preview of interview with Rick Rule

Ed Steer Gold And Silver – We Ain’t Seen Nothing Yet!

Episode 5 of The M3 Report with Steve St Angelo

Blog posts

Exclusive preview of interview with Rick Rule

What do: Ron Paul Mike Tyson  A fart in an elevator  President Paul Kagame of Rwanda …have in common? They are all featured in this week’s The M3 Report, your show for all things Metals, Markets and Money. This is our sixth episode of the hit show. Subscribe now, to be sure not to miss it.  […]

READ MORE

Ed Steer Gold And Silver – We Ain’t Seen Nothing Yet!

Our guest this week is Ed Steer, expert gold and market analyst and author of the Gold & Silver Digest. We invited Ed onto GoldCore TV to get his take on what is concerning him most in financial markets, movements in SLV and sanctions against Russia. He also draws our attention to central bank purchases […]

READ MORE

Ross Geller inspires Bank of England policy

This morning the UK pound slumped as one of the world’s oldest central banks pressed hard on the panic button. The Bank of England was seen to be shouting ‘Pivot! Pivot! Pivaat!’ as they announced they would temporarily suspend their programme to sell gilts and will instead buy long-dated bonds.  In a statement, the bank […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE