Daily Market Update

Gold Breaks Out of Range After Dovish Fed – Further 1% Gain to $1,321/oz

– Gold breaks out of range to highest in 8 months after dovish Fed 
– Fed keeps benchmark interest rates unchanged (range between 2.25 percent and 2.5 percent), will be ‘patient’ on future hikes and “flexible” on its balance sheet as indebted and vulnerable US economy slows
– Fed decision and statement are very gold positive and strongly suggest that rather than tightening the Fed may be forced to ease monetary policy; further QE is likely in the coming months
– Gold is up 3.4% in January and is set for 4th monthly gain; silver gains 3.8% in January 
– Meanwhile White House warns nations not to buy Venezuelan gold as reports of Russian plane landing in Caracas to collect gold

Gold in USD (1 Year) – GoldCore.com


Source: Bloomberg, US Global Investors


News and Commentary

Gold marks highest finish since mid-May, extends gains after Fed decision (MarketWatch.com)

Fed leaves rates steady, says will be ‘patient’ on future hikes (Reuters.com)

Pushing for Maduro to go, White House says don’t trade Venezuelan gold (Reuters.com)

Gold refiners Valcambi and Asahi make separate bids for bankrupt U.S. rival (Reuters.com)

Gold settles higher, extends gains in electronic trade after Fed statement (NavyTimes.com)

Source: US Global Investors via GoldSeek

Gold SWOT Analysis: Gold Traders Bullish for 11th Straight Week (GoldSeek.com)

LBMA: 2019 Precious Metals Forecast Survey (GoldSeek.com)

Refusal to hand over Venezuelan gold may mean end of Britain as gold center (RT.com)

China, Russia Preparing For “Blackout Warfare” With “Super-EMP” Bombs (ZeroHedge.com)

Is war between China and the US inevitable? | Graham Allison (Youtube.com)

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Gold Prices (LBMA PM)

30 Jan: USD 1,312.95, GBP 1002.04 & EUR 1,148.44 per ounce
29 Jan: USD 1,308.35, GBP 994.48 & EUR 1,143.24 per ounce
28 Jan: USD 1,301.00, GBP 987.98 & EUR 1,139.81 per ounce
25 Jan: USD 1,282.95, GBP 981.33 & EUR 1,132.08 per ounce
24 Jan: USD 1,279.75, GBP 981.70 & EUR 1,128.36 per ounce
23 Jan: USD 1,284.90, GBP 990.14 & EUR 1,131.74 per ounce
22 Jan: USD 1,284.75, GBP 994.14 & EUR 1,130.58 per ounce

Silver Prices (LBMA)

30 Jan: USD 15.91, GBP 12.15 & EUR 13.92 per ounce
29 Jan: USD 15.85, GBP 12.05 & EUR 13.87 per ounce
28 Jan: USD 15.68, GBP 11.93 & EUR 13.75 per ounce
25 Jan: USD 15.37, GBP 11.74 & EUR 13.55 per ounce
24 Jan: USD 15.30, GBP 11.75 & EUR 13.48 per ounce
23 Jan: USD 15.38, GBP 11.80 & EUR 13.54 per ounce
22 Jan: USD 15.26, GBP 11.84 & EUR 13.44 per ounce

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Mark O'Byrne
Executive Director


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