Gold Breaks Above $1,350, €1,200 and £1,060 – Risk Of War In The Middle East

GoldCore Note

Gold prices jumped another 1% today, surpassing the key $1,350 level for the first time since April last year. Gold made strong gains in all currencies including the euro and the pound, rising above €1,200 and £1,060 per ounce respectively.

Gold in EUR – 1 Year


Poor economic data from China, the UK, the EU and the United States, and a significant escalation in tensions in the Middle East is seeing an increase in safe haven demand.

Spot gold climbed 1% to $1,356 per ounce by late morning in Europe. It reached its highest level since April 11, 2018 at $1,358.04 in early European trading.

Frequently, gold prices go lower as gold futures get sold in volume as U.S. markets open. However, as the drums of war with Iran bang louder and given the scale of the tensions in the Middle East, gold should see more hedging and safe haven demand today as we head into the weekend.

Gold bullion has gained another 1.2% so far this week and the precious metal is on track for its fourth consecutive weekly gain which bodes well technically.

Silver also gained 1% to $15.05, its highest in a week, while platinum gained 0.7% to $813.08.

Palladium has surged 7% this week and rose another 0.4% to $1,450/oz today. Palladium is on track for its best week in nearly 9 months.



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

13-Jun-19 1335.80 1335.90, 1054.21 1052.69 & 1182.85 1184.81
12-Jun-19 1336.65 1332.35, 1049.27 1045.76 & 1179.99 1177.26
11-Jun-19 1322.65 1324.30, 1040.53 1041.30 & 1168.96 1170.42
10-Jun-19 1328.60 1328.60, 1046.94 1048.66 & 1175.41 1175.94
07-Jun-19 1334.30 1340.65, 1049.16 1052.14 & 1184.19 1184.60
06-Jun-19 1336.65 1335.50, 1053.15 1051.17 & 1189.62 1185.92
05-Jun-19 1337.75 1335.05, 1052.01 1049.22 & 1185.38 1184.99
04-Jun-19 1323.60 1324.25, 1045.51 1043.77 & 1177.47 1177.26
03-Jun-19 1313.95 1317.10, 1039.47 1042.35 & 1175.99 1175.38


News and Commentary

Gold Extends Advance to Third Straight Session on Fed Rate-cut View, Geopolitical Ripples

Gold Gains as Fed Rate Cut Expectations Provide Support

European Stocks Trade Lower Amid Middle East Tensions

Tanker Attacks Reignite Oil Fear Premium, Prices Could Spike to $80

U.S. Weekly Jobless Claims Rise; Imported Inflation Subdued


Watch video here

JEFFREY GUNDLACH : ‘I Am Certainly Long Gold’

Beijing May Face Consequences if Chinese President Refuses to Meet With Trump at G-20 Threatens Kudlow

The Fed Has No Choice But to Return to Ultra-Low Interest Rates

With Tariffs Trump is Destroying Dollar and U.S. Power – Salinas Price

A Morgan Stanley Economic Indicator Just Suffered a Record Collapse

Mark O'Byrne

Also on news-goldcore-com

Videos

Are We In A Financial Bubble? Peter Grandich Interview

Marc Faber Interview 2021: Don’t Sell Your Gold

Buy Physical Silver Now- Gary Savage

Blog posts

Gold Leads the Way for Silver

Gold leads the way Last week we wrote about the gold to silver ratio. Our points were that it measures the price of one metal against the other, just as we use the dollars per ounce to measure daily metals prices, and just as we use ounces per Corvette to measure purchasing power preservation. Also, […]

READ MORE

Gold, Stocks & Commodities- A Complicated Correlation

In our July 29 post titled How Gold Stacks Up Against Stocks, Property, Commodities and Big Macs! we showed readers charts of gold as a ratio to other assets and products. We discussed that gold competes with crypto and stocks for the investment dollars. It was clear that gold as a ratio of the S&P […]

READ MORE

How Gold Stacks Up Against Stocks, Property, Commodities and Big Macs!

Gold and silver have faced stiff competition for investment dollars. There is little doubt that the cryptocurrency hype at the end of 2020 and the first quarter of 2021 sucked investment away from gold. Some viewed it as a ‘no lose’ investment and others as the next generation alternative to fiat currencies. The sharp decline […]

READ MORE

Featured

How High is Too High for Rising Government Bond Yields?

READ MORE

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Are We In A Financial Bubble? Peter Grandich Interview

Marc Faber Interview 2021: Don’t Sell Your Gold

Buy Physical Silver Now- Gary Savage

Blog posts

Gold Leads the Way for Silver

Gold leads the way Last week we wrote about the gold to silver ratio. Our points were that it measures the price of one metal against the other, just as we use the dollars per ounce to measure daily metals prices, and just as we use ounces per Corvette to measure purchasing power preservation. Also, […]

READ MORE

Gold, Stocks & Commodities- A Complicated Correlation

In our July 29 post titled How Gold Stacks Up Against Stocks, Property, Commodities and Big Macs! we showed readers charts of gold as a ratio to other assets and products. We discussed that gold competes with crypto and stocks for the investment dollars. It was clear that gold as a ratio of the S&P […]

READ MORE

How Gold Stacks Up Against Stocks, Property, Commodities and Big Macs!

Gold and silver have faced stiff competition for investment dollars. There is little doubt that the cryptocurrency hype at the end of 2020 and the first quarter of 2021 sucked investment away from gold. Some viewed it as a ‘no lose’ investment and others as the next generation alternative to fiat currencies. The sharp decline […]

READ MORE

Featured

How High is Too High for Rising Government Bond Yields?

READ MORE

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

Silver – 7 Reasons it is Still Set to Soar

READ MORE