Daily Market Update

Gold Moves Higher Again As US-China Trade War Impacts Stocks

GoldCore Note

Gold prices have moved higher today after hitting a one-week low yesterday. Renewed worries over the U.S.-China trade war and its impact on the global economy are pushing gold higher.

Stocks globally have fallen as risk aversion creeps back in as the trade war escalates, increasing the appeal of gold bullion as a hedge and safe haven.

Spot gold was up 0.8% at $1,337.10 by mid morning (GMT), after falling to its weekly low at $1,319.35 in the previous session.

Stock markets moved lower as the warring factions in the China U.S. trade tussle engaged in another round of very heated exchanges. A new front in the deepening tensions between the superpowers is the new tech cold war and this does not bode well for an amicable resolution.

LBMA Gold Prices (USD, GBP & EUR – AM/ PM Fix)
11-Jun-19 1322.65 1324.30, 1040.53 1041.30 & 1168.96 1170.42
10-Jun-19 1328.60 1328.60, 1046.94 1048.66 & 1175.41 1175.94
07-Jun-19 1334.30 1340.65, 1049.16 1052.14 & 1184.19 1184.60
06-Jun-19 1336.65 1335.50, 1053.15 1051.17 & 1189.62 1185.92
05-Jun-19 1337.75 1335.05, 1052.01 1049.22 & 1185.38 1184.99
04-Jun-19 1323.60 1324.25, 1045.51 1043.77 & 1177.47 1177.26
03-Jun-19 1313.95 1317.10, 1039.47 1042.35 & 1175.99 1175.38
30-May-19 1276.45 1280.95, 1010.44 1015.92 & 1146.25 1151.70

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Mark O'Byrne
Executive Director


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