Gold Consolidates Near All Time Record High In Pounds – Prime Minister Boris Johnson

Sterling is under pressure today and gold near all time record highs in sterling over £1,145/oz. Britain’s ruling Conservative party have elected Boris Johnson as its new leader and therefore UK Prime Minister today.

Gold In Sterling Nears Record Nominal Highs

There are increasing concerns about the outlook for the UK economy and sterling due to the poor fundamentals of the UK economy and the very uncertain outlook in the UK and internationally.

The UK deficit surged to over £7 billion pounds in June alone and the Brexit mess and the depressed UK economy pose massive challenges both for the new UK Prime Minister and for the British pound.

The massive deficit last month is the largest deficit for June in four years, and suggests that the already poor UK’s fiscal position may be weakening again.

The sharp jump in UK borrowing was driven by a very large increase in government spending. Total central government expenditure rose by £4.3 billion compared with a year ago, while government income (ie from tax receipts) only rose by £800 million.

UK savers and investors would be advised to hedge the growing risks to UK assets and the pound by have an allocation to gold.

The very poor state of UK finances mean that most taxes are likely to go higher in the coming years including capital gains tax. This will be especially the case if a Corbyn or other Labour government comes to power.

For most investors and especially high net worth and family office investors, owning capital gains tax (CGT) free Gold Britannias and Sovereigns remains the most cost effective way, in terms of total round trip costs, to invest in and own gold.

Click Here to Listen to the latest GoldCore Podcast


News and Commentary


Silver Closes at 13-month High as Gold Ekes Out a Gain

Gold Steady as Big Rate Cut Bets Fade, Analysts Eye Further Upside

Gold Looks for Direction After Hitting 6-year High

Iran Says It Arrests CIA Spies, Gulf Tensions Simmer

Silver Seeks to Catch Up With Gold – Holmes

It’s Now Smart to Hold Some Gold 

Cramer: Trump is ‘Hungry for Tariffs’ and Trade Talks Are One Tweet Away From ‘Blowing Up’

“A Lot of Powerful People…Could Go Down” Due to Epstein Black Book

LBMA Gold Prices (AM/ PM Fix – USD, GBP & EUR)

22-Jul-19 1424.45 1427.75 1142.69 1143.63 & 1270.04 1272.13
19-Jul-19 1437.05 1439.70, 1148.06 1148.88 & 1278.11 1281.48
18-Jul-19 1420.90 1417.45, 1139.70 1135.94 & 1264.74 1263.51
17-Jul-19 1400.80 1410.35, 1129.61 1135.61 & 1249.09 1256.90
16-Jul-19 1416.10 1409.85, 1136.85 1134.79 & 1260.05 1256.88
15-Jul-19 1416.25 1412.40, 1127.76 1127.24 & 1255.93 1253.79
12-Jul-19 1405.60 1407.60, 1122.23 1122.14 & 1248.74 1251.50
11-Jul-19 1423.10 1413.75, 1135.06 1126.62 & 1262.72 1255.83
10-Jul-19 1395.45 1408.30, 1117.34 1126.78 & 1243.35 1252.68



Receive our free Daily or Weekly Updates by signing up here and click here to subscribe to GoldCore’s You Tube Channel


Mark O'Byrne

Also on news-goldcore-com

Videos

Gold In 2022- Very Bullish Chart Patterns Developing

Why Buy Gold In 2022

The Fed Is Flipping- Massive Policy Error

Blog posts

Goldman Sachs Shades Gold For Bitcoin As Store Of Value

Goldman Sachs Shades Gold For Bitcoin As Store Of Value A Goldman Sachs (GS) research note published on January 5, 2022, has captured headlines on the major news websites along with Twitter. The note suggests that gold currently holds 80% of the market for money-seeking exposure to “store of value” markets whilst Bitcoin now holds […]

READ MORE

Gold In 2022- Very Bullish Chart Patterns Developing

Chris Vermeulen of TheTechnicalTraders.com joins Dave Russell to discuss charts that could help us interpret future moves in the gold and silver market. In this episode, we look at stock markets, bond markets, cryptocurrencies, oil prices, and of course precious metals. Click the Video Below to Watch Make sure you don’t miss a single episode… […]

READ MORE

Price Action for Gold in 2022- The Important Pattern of Higher Lows

Price action for gold in 2022….the important pattern of higher lows. The start of a new year is a natural time to look ahead. Before we look at what 2022 could have in store for the gold price – we take time to reflect. Why Buy Gold In 2022Watch Stephen Flood on GoldCore TV The […]

READ MORE

Featured

Silver – 7 Reasons it is Still Set to Soar

READ MORE

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Gold In 2022- Very Bullish Chart Patterns Developing

Why Buy Gold In 2022

The Fed Is Flipping- Massive Policy Error

Blog posts

Goldman Sachs Shades Gold For Bitcoin As Store Of Value

Goldman Sachs Shades Gold For Bitcoin As Store Of Value A Goldman Sachs (GS) research note published on January 5, 2022, has captured headlines on the major news websites along with Twitter. The note suggests that gold currently holds 80% of the market for money-seeking exposure to “store of value” markets whilst Bitcoin now holds […]

READ MORE

Gold In 2022- Very Bullish Chart Patterns Developing

Chris Vermeulen of TheTechnicalTraders.com joins Dave Russell to discuss charts that could help us interpret future moves in the gold and silver market. In this episode, we look at stock markets, bond markets, cryptocurrencies, oil prices, and of course precious metals. Click the Video Below to Watch Make sure you don’t miss a single episode… […]

READ MORE

Price Action for Gold in 2022- The Important Pattern of Higher Lows

Price action for gold in 2022….the important pattern of higher lows. The start of a new year is a natural time to look ahead. Before we look at what 2022 could have in store for the gold price – we take time to reflect. Why Buy Gold In 2022Watch Stephen Flood on GoldCore TV The […]

READ MORE

Featured

Silver – 7 Reasons it is Still Set to Soar

READ MORE

Gold, the Tried-and-True Inflation Hedge for What’s Coming!

READ MORE

How High is Too High for Rising Government Bond Yields?

READ MORE