GoldCore News

Gold Gains 0.8%, Silver 3.4% As Stocks Fall on Bad EU Data and Oil Gains On Middle East Concerns

  NEWS and COMMENTARY Gold gains on Middle East tensions; palladium hits record high Gloomy European Data Hits Stocks as Bonds Advance Oil gains more than 1% on Saudi supply doubts, Mideast tensions Iran warns it will ‘destroy aggressors’ after US troop announcement UK households’ financial worries hit five-year high: IHS Markit German Industrial Recession […]

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‘Plumbing of the U.S. Financial System’ Under Pressure; NY Fed Providing Massive Liquidity and Potentially Permanent Repo and QE

◆ The ‘plumbing of the U.S. financial system’ is under pressure as liquidity dries up forcing New York Federal Reserve to provide massive liquidity and potentially they may be forced to move to permanent repo operations and renewed quantitative easing or QE ◆ The New York Fed appears to be set to do another $75 […]

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Gold Falls Despite President of the United States Attacking “Fail Again” Federal Reserve

NEWS and COMMENTARY Trump: Powell and the Federal Reserve Fail Again. No “guts,” no sense, no vision! A terrible communicator!  Federal prosecutors, commodity regulators broaden manipulation probe beyond precious metals JP Morgan’s ‘spoofing’ isn’t the big manipulation GATA has pursued, Official manipulation is BIS gold swaps rose in August but still lower than last year […]

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JPMorgan’s Gold and Silver Desk Was a Criminal Enterprise – U.S. Justice Department

◆ JPMorgan’s head of precious metals trading and senior traders have been charged by the U.S. Department of Justice with rigging precious metal prices in a “massive, multiyear scheme” ◆ The DOJ’s indictment said the scheme generated millions of dollars in profits for JPMorgan Chase and caused millions in losses for counter-parties, prosecutors said ◆ […]

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Central Bank Gold Buying Is “Sustainable and Indeed May Accelerate”

◆ Why central banks including China and Russia will keep buying gold due to concerns about the outlook for currencies, including the dollar and the euro, Mark O’Byrne, Research Director of GoldCore told Marketwatch ◆ While the gold tonnage demand from central banks in recent months has been significant and near records, gold remains a […]

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Oil Surges 10%, Gold Gains 1% and Silver 2.2% After Saudi Oil Attacks

◆ Oil surged over 15% after the attacks on the Saudi oil facilities; oil prices are now 10% higher with gold 1% higher and silver over 2% higher ◆ U.S. stock index futures dropped as oil prices surged the most on record; Brent crude soared as much as 19.5% and West Texas Intermediate added 15.5% […]

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Gold Gains 1.5% After ECB Unleashes Bazooka of -0.5% Interest Rate and QE Of €20 Billion A Month

◆ Gold gained 1.7% after the European Central Bank unleashed easy money measures by cutting deposit interest rates and relaunched QE “for as long as necessary” ◆ The ECB moved further into negative rates at -0.5% and will electronically create of €20 billion euros every month to buy bonds; gold rose from €1,362/oz to €1,394/oz […]

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Citigroup Say Gold May Top Record At $2,000 Per Ounce

◆ Gold will “trade stronger for longer” and Citigroup see gold possibly topping new nominal highs at $2,000 an ounce in the next year or two ◆ Citi is bullish on gold due to the prospect of the Fed cutting interest rates to zero, heightened geopolitical tensions and rising risks of a global recession (see […]

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‘Protect Oneself’ From A ‘Paradigm Shift’ Akin to the 1930s With Gold Diversification – Ray Dalio

Diversify Well To Protect Oneself Against The Coming ‘Paradigm Shift’ by Ray Dalio, Bridgewater Associates The most important forces that now exist are: 1) The End of the Long-Term Debt Cycle (When Central Banks Are No Longer Effective)+ 2) The Large Wealth Gap and Political Polarity+ 3) A Rising World Power Challenging an Existing World […]

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Gold Marginally Higher; China Buys 100 Tons of Gold For Its Reserves In 2019

◆ Gold eked out small gains of 0.4% to $1,512/oz after falling nearly 1% last week; Improved risk appetite are capping gains for now ◆ Gold may go lower in the short term and support is at $1,500 and $1,450 per ounce but strong global safe haven demand from investors, family offices and central banks […]

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Gold In Japan Reaches Highest Since 1980 – Surging Demand Results In Delays To Buy Gold

◆ Gold has reached its highest price in Japanese yen since 1980 at 165,045/oz (see charts below) as the yen depreciates amid “global economy jitters” ◆ A surge in demand in Japan is resulting in gold buyers needing to wait “2-3 hours to close deals” on gold bars according to Japan’s largest gold broker Tanaka […]

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Gold To $3,000/oz By End Of 2020 As The Dollar Will Fall Sharply – Ron Paul

◆ Where Does Gold Go From Here? — Ron Paul’s “Cautious” Prediction ◆ “Gold is an ‘insurance policy’ as the dollar will continue go down in value as it is printed” and it will end in a monetary “calamity” ◆ “Gold is not money due to any man-made laws. Gold is money despite man-made laws, […]

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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 […]

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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 Consolidates 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 gold in Australian dollars 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 […]

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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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