GoldCore Update: Concerns About Disorderly Monetary and Economic Crisis Increasing

Gold
Gold is currently trading at $1,054.60/oz. In euro and GBP terms, gold is trading at €704.60/oz and £637/oz. Support for gold is currently seen at $1,043/oz and resistance at $1,070/oz.

Cheap money and the massive international liquidity injection has again risen all boats but the question is whether the gains seen in nearly all asset classes are sustainable. Elevated gold prices suggest that smart money internationally is concerned about the long term implications of current loose fiscal and monetary policies. Many large hedge funds, central banks, high net worth and retail investors are also concerned about the outlook for the dollar.

Concerns about the decline in the dollar creating deflationary pressures in European, Japanese and other economies may lead to tense meetings at the upcoming meeting of finance ministers from the world’s 20 largest economies, taking place in Scotland on November 6th and 7th. There is a realization that the “strong dollar policy” is no longer the thrust of US policy. An overriding US policy objective may now be to ensure that the benign and orderly falls to date do not become a disorderly dollar unraveling.

Silver
Silver is trading at $17.48/oz. In euro and GBP terms silver is trading at €11.66/oz and £10.54/oz.

Platinum Group Metals
Platinum is trading at $1,355/oz while rhodium and palladium are trading at $1,800/oz and $330/oz respectively.

Find out First – Register Now For GoldCore’s Exclusive Market Updates

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.

Also on news-goldcore-com

Videos

Episode 5 of The M3 Report with Steve St Angelo

What we can Learn from the International Gold Market

Jim Rogers Interview 2022

Blog posts

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

Episode 5 of The M3 Report with Steve St Angelo

Is the energy crisis something that can be resolved? Was it always inevitable? Will renewable energy make it all OK? Are Western financial policies to blame? All this and more in today’s The M3 Report! If you’re not already subscribed to GoldCoreTV then click here right now to make sure you’re all set to watch the fifth […]

READ MORE

Brace Yourself for the Impact

Fed’s message this week – higher rates, lower economic growth, higher unemployment. The Fed hiked interest rates by 75 basis points for the third straight meeting and the statement said that the committee anticipates further increases. The Summary of Economic Projections (SEP) showed that the median projection is for a further 1.25% increase by yearend. […]

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

Episode 5 of The M3 Report with Steve St Angelo

What we can Learn from the International Gold Market

Jim Rogers Interview 2022

Blog posts

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

Episode 5 of The M3 Report with Steve St Angelo

Is the energy crisis something that can be resolved? Was it always inevitable? Will renewable energy make it all OK? Are Western financial policies to blame? All this and more in today’s The M3 Report! If you’re not already subscribed to GoldCoreTV then click here right now to make sure you’re all set to watch the fifth […]

READ MORE

Brace Yourself for the Impact

Fed’s message this week – higher rates, lower economic growth, higher unemployment. The Fed hiked interest rates by 75 basis points for the third straight meeting and the statement said that the committee anticipates further increases. The Summary of Economic Projections (SEP) showed that the median projection is for a further 1.25% increase by yearend. […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE