Gold Blog

Gold Gains 1.7% and Silver Surges 4.9% After Weak U.S. Data Compounds Global Recession Fears

* Gold gained 1.7% and silver surged 4.9% yesterday after weak U.S. manufacturing data reinforced fears of a U.S. and global recession * The escalation in the U.S.-China trade war and the political shambles in the UK and Brexit further bolstered gold bullion’s safe-haven appeal * U.S. manufacturing activity contracted for the first time in […]

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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 […]

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Silver Rally Is ‘Stealing the Show’ Even as Gold Surges to 6-Year High

News and Commentary Gold rises as U.S., China begin new round of tariffs Silver rally is stealing the show even as gold surges to 6-year high Return to capital controls sends Argentina assets tumbling Argentina central bank tightens FX market access as peso plunge burns through reserves China, U.S. kick off new round of tariffs […]

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Silver Gains 6% To $18.40/oz and Gold Consolidates Over $1,500/oz This Week

News and Commentary Gold steadies near six-year high, silver jumps as growth risks persist Silver rally is stealing the show even as gold surges to 6-year high Around 1,000 fake-branded bars likely from China slip dirty gold into Asian gold markets Trump says US and China resume trade talks Thursday ‘at a different level’ China […]

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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 […]

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Silver Surges 3% To $18.30oz; Next Resistance At $20/oz and Then $50/oz

* Silver has breached the resistance level of $18 an ounce for the first time in two years after surging 3% yesterday * Spot silver extended gains for a third straight session, jumping 3% to $18.15 per ounce. It reached $18.34, its highest level since September 2017 and is up 11.5% in August, making it […]

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Gold Steadies After Surging To All Time Record High In Euros At €1,392.60/oz

* Gold in euros surged to a record high at €1,392.60/oz and the Australian dollar hit new record highs yesterday * Gold surged to a more than six-year high in dollars yesterday surpassing $1,550/oz in early trade prior to falling to $1,530/oz *Investors are seeking safety from a host of uncertainties including heightened U.S.-China and […]

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G7, Trump Tweets and Uncertainty Underline Importance of Owning “Physical Gold In A Vault” – GoldCore on Bloomberg

Mark O’Byrne, executive director at Goldcore Ltd., discusses his outlook for gold as gold reached record highs in euros (see chart) amid global uncertainty. He speaks on “Bloomberg Markets: European Open.” (Source:Bloomberg) – Given the serious developments at the G7, Trump’s tweet regarding Fed Chairman Powell being akin to an enemy and the escalating trade […]

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Interview with Mark O’Byrne: Gold Down 1% In Week; Up 6% In August and Up 17% YTD; ‘Most Probably Correct’ So Cost Average

Dale Pinkert interviews Mark O’Byrne about GoldCore, gold’s outlook, bank and electronic risk, bitcoin and cryptos and Swiss storage “Don’t just count your pips, bullion coins and bars … count your blessings” Gold is 6% higher in August and may correct in the short term so cost average Deutsche Bank is a “basket case” and […]

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Gold Steady At $1,500 As Russia Buys Another 300,000 Ounces Of Gold In July

Russia increased it’s gold reserves by another 300,000 ounces in July and its gold reserves are now worth $101.9 billion Total amount of Russian gold reserves rose 0.4% in July, reaching 71.3 million ounces or 2,218 tons as of August 1 Official figures show gold now accounts for 19.6% of the total reserves of the […]

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