Three Reasons Gold May Embark On An Extended Rally

– History may repeat itself for gold demand and prices as world economy looks set to slow
– Three reasons for gold’s extended rally from 2008 to 2011 may be making a comeback
– As global growth looks to be slowing, hopes grow for repeat of 2008-11 rally that saw gold almost triple in value

by Clyde Russell of Thomson Reuters

The three legs that supported gold’s extended rally from just after the 2008 global recession until the all-time peak in 2011 may be making something of a comeback this year.


Gold in USD 10 Years – GoldCore.com

This is sparking hopes that the precious metal may finally break out of a fairly narrow five-year range, although it’s still far from certain that the dynamics for a sustained rally are entrenched.

The 2008-11 rally that saw spot gold almost triple in value to reach a record of $1,920.30 an ounce was built on three pillars, namely strong physical demand from top buyers China and India, robust central bank purchases, and appetite for a safe haven investment amid the fallout from the global recession.

Full Article via Reuters Here

 

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News and Commentary

McEwen Says Gold Market Confidence Is Coming Back (Bloomberg.com)

Sam Zell Says Gold ‘Is a Good Hedge’ (Bloomberg.com)

Palladium holds near record levels on supply woes; gold steady (Reuters.com)

The stock market hasn’t started a year this strongly since 1987 — uh-oh! (MarketWatch.com)

Palladium Reaches Another Record as JPMorgan Sees More Upside (Bloomberg.com)


Image Credit: Dow Jones Market Data

Silver: Back In Focus (SilverSeek.com)

U.S. Government Debt Bomb Much Higher Than Americans Realize (24HGold.com)

J.P. Koning: How California stayed with gold when the rest of the U.S. adopted fiat money (Gata.org)

Eleven Economic Reports Delayed Due to Gov’t Shutdown: Do We Even Need Them? (24HGold.com)

Top Ten Trends Lead to Gold (24HGold.com)

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Gold Prices (LBMA PM)

Gold Prices (LBMA PM)

17 Jan: USD 1,294.00, GBP 1,004.92 & EUR 1,135.87 per ounce
16 Jan: USD 1,290.50, GBP 1,002.46 & EUR 1,130.99 per ounce
15 Jan: USD 1,289.35, GBP 1,002.99 & EUR 1,127.67 per ounce
14 Jan: USD 1,293.70, GBP 1,007.02 & EUR 1,129.27 per ounce
11 Jan: USD 1,298.80, GBP 1,012.91 & EUR 1,123.96 per ounce
10 Jan: USD 1,292.40, GBP 1,012.98 & EUR 1,121.54 per ounce
09 Jan: USD 1,281.30, GBP 1,006.41 & EUR 1,118.32 per ounce

Silver Prices (LBMA)

17 Jan: USD 15.57, GBP 12.08 & EUR 13.66 per ounce
16 Jan: USD 15.54, GBP 12.09 & EUR 13.66 per ounce
15 Jan: USD 15.60, GBP 12.13 & EUR 13.65 per ounce
14 Jan: USD 15.61, GBP 12.13 & EUR 13.61 per ounce
11 Jan: USD 15.68, GBP 12.23 & EUR 13.60 per ounce
10 Jan: USD 15.70, GBP 12.33 & EUR 13.63 per ounce
09 Jan: USD 15.62, GBP 12.27 & EUR 13.64 per ounce

Recent Market Updates

– Political Turmoil in UK & US Sees Gold Hit 2 Week High
– Gold Holds Steady Over €1,100/oz – Increased Possibility Of A Disorderly Brexit
– Turbulence and Brexit Make Safer Options Like Gold and Cash Essential
– Where Will The “Pending” Financial Crisis Originate?
– Gold and Silver Prices To Rise To $1,650 and $30 By 2020? Video Update
– Gold Outlook 2019: Uncertainty Makes Gold A “Valuable Strategic Asset” – WGC
– Blackrock Say Gold Will Be A “Valuable Portfolio Hedge” In 2019
– Financial Advice In 2019: Own Gold To Hedge $250 Trillion Global Debt Bubble – GoldCore In Irish Times
– China Adds 320,000 Ounces To Gold Reserves – First Central Bank Purchase Since October 2016
– Gold At 6 Month High At $1,300 and All Time Record Highs In Australian Dollars Over $1,870
– Gold Hedges Stock Market Falls In 2018 – Gains 2.7% In Euros and 3.8% In Pounds

Mark O'Byrne

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