Daily Market Update

Citigroup Say Gold May Top Record At $2,000 Per Ounce

◆ Gold will “trade stronger for longer” and Citigroup see gold possibly topping new nominal highs at $2,000 an ounce in the next year or two

◆ Citi is bullish on gold due to the prospect of the Fed cutting interest rates to zero, heightened geopolitical tensions and rising risks of a global recession (see News below)

◆ Strong demand from institutional investors and central bank diversification will provide support for gold prices

◆ Citigroup says recession risks and strong investor demand underpin their positive outlook for gold

Source: Bloomberg

Gold in USD – CPI Inflation Adjusted – 1970 to Sept 2019. Source: Macrotrends.net

NEWS and COMMENTARY

Citigroup Says Gold May Top Record – Bloomberg 

Gold prices inch higher, all eyes on ECB meeting

Trump ousts NSA Adviser Bolton, says they ‘disagreed strongly’ on policy

Consumer Credit Card Debt Explodes In July Despite Rates At 18-Year Highs

Tech stock bubble continues – but wise investors should look for value elsewhere

“History doesn’t repeat itself, but it does rhyme” – Mauldin on Dalio

‘I’m even more bullish on silver than on gold’ – Ned Naylor-Leyland

Record-High Debt And Record-Low Yields May See Gold At $10,000 – Holmes

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

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
30-Aug-19 1526.55 1528.40, 1253.14 1251.15 & 1382.75 1383.51


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Mark O'Byrne
Executive Director

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