◆ Gold is marginally lower today at $1,503/oz and stocks are mixed ahead of what are set to be tense U.S. and China trade negotiations.
◆ Gold sales are expected to accelerate through the end of the year due to weakening global economic conditions, according to Mike McGlone, a Bloomberg Intelligence senior commodity strategist as quoted by China Daily (see below)
◆ Gold buying in China has fallen 3.3 (yoy) to 523.54 metric tons as safe haven buying of gold bars and coins has declined of late, while spending on gold jewelry has increased steadily with about 359 tons of gold being bought from January to June
NEWS and COMMENTARY
Sales of gold soar in China during holiday season (Golden Week)
Gold rises ahead of U.S.-China trade negotiations
Asia markets mixed ahead of this week’s US-China trade talks
China is reportedly reluctant to agree to a broad US trade deal with talks set to restart
EU’s largest economy, Germany is now its ‘major underperformer’
Fed’s George Sees No Need to Ease Unless Slowdown Deepens
Russia’s largest oil company ditches dollar in new oil deals
Gold Prices (LBMA – USD, GBP & EUR – AM/ PM Fix)
04-Oct-19 1509.50 1499.15, 1223.75 1220.01 & 1374.70 1366.78
03-Oct-19 1504.00 1517.10, 1221.70 1223.84 & 1372.25 1380.26
02-Oct-19 1484.05 1492.60, 1213.21 1215.13 & 1359.84 1364.68
01-Oct-19 1466.10 1473.45, 1193.11 1206.17 & 1345.29 1349.97
30-Sep-19 1487.60 1485.30, 1208.38 1206.06 & 1361.75 1362.17
27-Sep-19 1496.15 1489.90, 1218.17 1209.05 & 1369.58 1362.51
26-Sep-19 1507.05 1506.40, 1223.72 1219.28 & 1378.50 1374.89
25-Sep-19 1530.85 1528.75, 1231.11 1234.62 & 1391.24 1391.77
24-Sep-19 1520.25 1520.65, 1220.76 1216.67 & 1382.36 1381.36
23-Sep-19 1519.50 1522.10, 1222.13 1225.90 & 1385.48 1385.11
20-Sep-19 1504.10 1501.90, 1199.07 1203.62 & 1361.06 1362.52
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