“Buy Gold” As “Insurance Is Warranted” – Deutsche Bank

Buy gold as “insurance is warranted” Deutsche Bank have advised in a note issued today.

The embattled German bank has said that rising economic risks and market turmoil mean investors should buy gold for insurance.

Market Performance – 2016 YTD via Finviz.com 

“There are rising stresses in the global financial system; in particular the rising risk of a U.S. corporate default cycle and the risk of a sharp one-off renminbi devaluation due to the sharp increase in China’s capital outflows,” Deutsche Bank added.”Buying some gold as ‘insurance’ is warranted,” as reported by CNBC.

 

LBMA Gold Prices
26 Feb: USD 1,231.00, EUR 1117.58 and GBP 878.87 per ounce
25 Feb: USD 1,235.40, EUR 1,121.41 and GBP 887.10 per ounce
24 Feb: USD 1,232.25, EUR 1,122.33 and GBP 885.52 per ounce
23 Feb: USD 1,218.75, EUR 1,106.62 and GBP 863.43 per ounce 
22 Feb: USD 1,203.65, EUR 1,088.17 and GBP 849.21 per ounce

After initial falls again on Sunday night, Monday morning, gold has eked out slight gains this week in dollar and euro terms and has seen more strong gains in sterling terms as sterling continues to weaken on BREXIT and UK economy concerns.

Silver is lower in dollars and euros but has made small gains in sterling terms ($15.12/oz, €13.74, £10.80).

Gold and Silver News and Commentary
Gold moves revive memories of 1990s currency crisis – CNBC
Gold rises as bullish technicals, fund flows counter equity gains – Reuters
Asian Stocks Jump With Metals as Zhou Sees Easing Room – Bloomberg
Gold Tops Silver by Most Since 2008 as Investors Fret on Growth – Bloomberg
Jobless Claims in U.S. Rise in Holiday Week From Three-Month Low – Bloomberg

Gold Bulls Predict $US2,000-Plus Prices – ABC
Gold the ‘Superhero’ May Shoot Up to $1,400: Top Forecaster – Bloomberg
Aggressive Silver Capping Continues – Silver Seek
Deliverable Silver Stocks At The COMEX Reach Historic Low – Silver Seek
Why Some Think Australia’s Housing Market Is Due for a 2008 Moment – Bloomberg

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Mark OByrne

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