Is The Gold Price Heading Higher? IG TV Interview GoldCore

Is The Gold Price Heading Higher? IG TV Interview GoldCore

Research Director at GoldCore, Mark O’Byrne talks to IG TV’s Victoria Scholar about the outlook for the gold price.

In this interview, Mark O’Byrne, research director at Goldcore, says the fact that the gold price did not spike during last week’s equity sell-off was to be expected.

He said even at the height of the global financial crisis, amid the collapse in the Wall Street behemoth Lehman Brothers, gold prices fell. O’Byrne says gold’s hedge abilities and safe haven attributes are seen more in the medium to long term. Also, he points out that there was a big move up in December in the gold price, so a period of correction was expected.

O’Byrne says periods of rising interest rates have historically coincided with bull markets for gold. He cites the 1970s, and the period between 2003 and 2007, when gold prices did very well.

In terms of key levels, O’Byrne says there is resistance around $1360 before we head to $1400. He says he is cautious in the short term but feeling constructive for 2018 overall, and says $1500 is quite likely by autumn, although it could end 2018  above $1400.

Watch Interview On IG TV Here

 

News and Commentary

Gold holds steady near 2-1/2-week high as dollar dips (Reuters.com)

Paulson Maintained SPDR Gold Stake as Dollar Boosted Metal (Bloomberg.com)

Gold rallies to highest settlement in nearly 3 weeks on hotter-than-expected CPI (MarketWatch.com)

Gold quickly reverses US CPI-led fall, jumps back closer to session tops (FXStreet.com)

Gold rebounds from U.S inflation data-driven losses as dollar wilts (Reuters.com)


Source: Bloomberg

Gold Shines as Traders Count Down to ‘Critical’ CPI, Dalio Buys (Bloomberg.com)

Dalio’s Bridgewater Boosts Holdings in Gold (Bloomberg.com)

These Are the World’s Most Miserable Economies (Bloomberg.com)

Williams: “It’s The Long-Term Insolvency Of The US Government That Markets Don’t Like” (ZeroHedge.com)

Bullish Fundamentals To Push Gold Above $3,000 by 2020 (Gold-Eagle.com)

Gold Prices (LBMA AM)

15 Feb: USD 1,353.70, GBP 962.21 & EUR 1,084.45 per ounce
14 Feb: USD 1,330.75, GBP 959.74 & EUR 1,077.77 per ounce
13 Feb: USD 1,329.40, GBP 955.04 & EUR 1,077.61 per ounce
12 Feb: USD 1,321.70, GBP 955.19 & EUR 1,077.45 per ounce
09 Feb: USD 1,316.05, GBP 945.58 & EUR 1,072.84 per ounce
08 Feb: USD 1,311.05, GBP 944.87 & EUR 1,071.13 per ounce
07 Feb: USD 1,328.50, GBP 956.12 & EUR 1,075.95 per ounce

Silver Prices (LBMA)

15 Feb: USD 16.83, GBP 11.98 & EUR 13.49 per ounce
14 Feb: USD 16.58, GBP 11.97 & EUR 13.43 per ounce
13 Feb: USD 16.61, GBP 11.94 & EUR 13.46 per ounce
12 Feb: USD 16.43, GBP 11.86 & EUR 13.39 per ounce
09 Feb: USD 16.36, GBP 11.83 & EUR 13.37 per ounce
08 Feb: USD 16.35, GBP 11.70 & EUR 13.36 per ounce
07 Feb: USD 16.69, GBP 12.02 & EUR 13.52 per ounce


Recent Market Updates

– Global Debt Crisis II Cometh
– Sovereign Wealth Funds Investing In Gold For “Long Term Returns” – PwC
– Bitcoin and Crypto Prices Being Manipulated Like Precious Metals?
– “This Is Where They Completely Lost Their Minds” – Hussman
– Brexit Risks Increase – London Property Market and Pound Vulnerable
– Peak Gold: Global Gold Supply Flat In 2017 As China Output Falls By 9%
– Crypto Currency Backlash Sees Flight From Cryptos and Bitcoin
– Gold Rises As Global Stocks Plunge and Bitcoin Crashes 70%
– Shrinkflation Intensifies – Stealth Inflation As Thousands of Food Products Shrink In Size, Not Price
– U.S. Debt Is “Extraordinarily High” and Are Stock And Bond Bubbles – Greenspan
– Gold Bullion Price Suppression To End? Bullion Bank Traders Arrested For Manipulating Market
– ATMs Hit By Malware “Jackpotting” Attacks That Dispense All Cash In Minutes
– London Property Market Tumbles As Glut of Luxury Apartments Grows To 3,000

Mark O'Byrne

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