* 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 European economies
* Sterling has lost a third of its value in the last 12 months with gold priced in sterling having gained 35% in 12 months
* Silver continues to eke out gains in all currencies as it plays catch up to gold
News and Commentary
Gold rises as U.S., China begin new round of tariffs
Pound tumbles as British factory output hits seven-year low ahead of Brexit showdown
British Prime Minister Boris Johnson says Brexit deal chances are rising
India’s seizures of smuggled gold jumps in June quarter
Investors Rush Into Gold ETF’s, 101.9 tons in August (most monthly inflows since 2013)
Cazenove Capital Favors Gold Over Bonds as Uncertainty Hedge
Gold Rally May Cool Briefly – Greg Bender
What caused Britain’s blackouts?
Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)
02-Sep-19 1523.35 1525.95, 1260.42 1265.01 & 1388.69 1391.51
30-Aug-19 1526.55 1528.40, 1253.14 1251.15 & 1382.75 1383.51
29-Aug-19 1536.65 1540.20, 1260.51 1262.96 & 1387.29 1392.03
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
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