Daily Market Update

Gold Reaches New Record Highs In GBP at £1,272 and EUR at €1,399 as Johnson Suspends UK Parliament

* UK political chaos, Brexit concerns and flight to safety propel gold in sterling and euros to new record nominal highs

* Gold priced in sterling and euros soared to record highs today at £1,272 and €1,399 per ounce, spurred by increasing fears of a disorderly British exit from the European Union as PM Johnson suspended the UK parliament

* Gold priced in the British currency has rocketed 34% in 12 months, beating its previous record of 1,204.63 pounds set at the height of the global financial crisis in 2011

* Silver has surged again in pounds and euros and is now at £15.20 and €16.80 per ounce

Gold reaches new record high of £1,271.82

News and Commentary

Gold steadies near six-year ‘peak’, silver jumps as growth risks persist

Gold prices tick up on recession fears, trade uncertainty

China sends fresh troops into Hong Kong as military pledges to protect ‘national sovereignty’

Dalio Says Central Banks Are Losing Ability to Reverse Downturns

Mnuchin Says Ultra-Long Bonds (50 or 100-years) Under ‘Very Serious Consideration’

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

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
21-Aug-19 1499.65 1503.25, 1235.41 1238.53 & 1351.48 1354.43
20-Aug-19 1502.65 1504.55, 1242.69 1239.60 & 1356.44 1357.86
19-Aug-19 1499.35 1496.60, 1236.66 1235.29 & 1350.76 1348.89

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Mark O'Byrne
Executive Director


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