Daily Market Update

Gold At New Record Highs In Pounds and Euros – £1,280/oz and €1,400/oz – On Brexit and Economic Concerns

* Gold in sterling and euros have reached new record nominal highs of £1,279.46/oz and €1,401.60/oz respectively this morning (see charts below)

* Gold priced in sterling and euros soared to record highs due to political turmoil in the UK, increasing concerns about a disorderly UK exit from the EU and the slowing UK and European economies 

* Sterling has lost a third of its value in the last 12 months with gold priced in sterling having gained 35% in 12 months

* Silver continues to eke out gains in all currencies as it plays catch up to gold

 

 

 

News and Commentary

Gold rises as U.S., China begin new round of tariffs

Pound tumbles as British factory output hits seven-year low ahead of Brexit showdown

British Prime Minister Boris Johnson says Brexit deal chances are rising

India’s seizures of smuggled gold jumps in June quarter

Investors Rush Into Gold ETF’s, 101.9 tons in August (most monthly inflows since 2013) 

Cazenove Capital Favors Gold Over Bonds as Uncertainty Hedge

Gold Rally May Cool Briefly – Greg Bender

What caused Britain’s blackouts?

 

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

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
29-Aug-19 1536.65 1540.20, 1260.51 1262.96 & 1387.29 1392.03
28-Aug-19 1541.75 1537.15, 1263.31 1258.77 & 1389.89 1387.43
27-Aug-19 1531.85 1532.95, 1250.91 1247.51 & 1378.97 1380.88
26-Aug-19 UK Bank Holiday
23-Aug-19 1495.50 1503.80, 1224.37 1228.91 & 1351.48 1357.63
22-Aug-19 1498.70 1502.05, 1234.63 1225.97 & 1351.98 1354.10

 



Click here to listen to the latest GoldCore Podcast


Receive our free Daily or Weekly Updates by signing up here and click here to subscribe to GoldCore’s You Tube Channel

Mark O'Byrne
Executive Director

Read more...
Newsletter
Category
Archives
Popular

Gold Surges 3% After U.S. Fed’s First Emergency Rate Cut Since 2008

◆ Gold surges 3% and has largest daily gain since June 2016 as the Fed delivers a surprise emergency rate cut, the first since 2008 ◆ Gold has gained over 10% in dollars and by more in other currencies so[...]

READ MORE

BIS Warns of ‘Major Faultlines' In Global Debt Bubble

  - BIS warns "unrealistic and dangerous to expect that monetary policy can cure all the global economy’s ills" - Bank of International Settlements warns that recent turmoil is not caused by isolated incidents - Debt levels are now so[...]

READ MORE