Newstalk’s Nick Bullman interviewed GoldCore’s Mark O’Byrne on “Down To Business” at 0643 this morning.
Topics covered were:
– Gold’s performance so far in 2016 – +25% in USD, +25% in EUR and +40% in GBP
– Gold acting as a hedge against fiat currencies
– “Could not invent a more bullish story for gold”
– Economic recoveries are tentative and leading to ultra loose monetary policies
– A lot of strong fundamentals including negative interest rates, polarisation of politics and “Clash of Civilisations”
– Short term risks with FOMC, Yellen and options expiration – may create short term risks
– Gold can rise even if dollar continues to rise
– Gold mining shares are up 80%. Are they over valued?
– Mining shares are more high risk and volatile than gold
– Allocation of 20% to gold merited given risks
– “Most of new buying from pension funds and companies”
– Avoid ETFs and paper gold – Have absolute legal title to physical gold
The interview can be listened to here
Gold and Silver Bullion – News and Prices
Gold edges up as dollar slips ahead of Fed meet (Reuters)
Gold Gains as Dollar Dips Before Fed, Official Sees BOE Stimulus (Bloomberg)
Gold ends lower as expectations grow for interest-rate hike later this year (Marketwatch)
Top credit ratings agency declares European Union “unsustainable” (Cityam)
Wall St. declines as earnings take center stage (Reuters)
SWOT Analysis: Is There Increased Political Risk Building into the Gold Market? (Goldseek)
An ‘insane’ number of catalysts are poised to roil vulnerable markets this week (Marketwatch)
Brexit and the City (Moneyweek)
The Brexit vote is over and the UK is fine – let’s stop the negativity (Telegraph)
“Central Bankers Are Killing Capitalism” Odey Warns, Moving Politics “Fast To Extremes” (Zerohedge)
Gold Prices (LBMA AM)
26 July: USD 1,321.25, EUR 1,199.56 & GBP 1,006.40 per ounce
25 July: USD 1,315.00, EUR 1,196.91 & GBP 1,000.32 per ounce
22 July: USD 1,323.20, EUR 1,199.22 & GBP 1,005.10 per ounce
21 July: USD 1,322.00, EUR 1,199.32 & GBP 1,000.75 per ounce
20 July: USD 1,325.60, EUR 1,204.31 & GBP 1,005.86 per ounce
19 July: USD 1,332.20, EUR 1,203.38 & GBP 1,009.04 per ounce
18 July: USD 1,326.15, EUR 1,200.30 & GBP 1,000.05 per ounce
Silver Prices (LBMA)
26 July: USD 19.68, EUR 17.89 & GBP 15.00 per ounce
25 July: USD 19.41, EUR 17.66 & GBP 14.77 per ounce
22 July: USD 19.70, EUR 17.87 & GBP 15.03 per ounce
21 July: USD 19.34, EUR 17.55 & GBP 14.66 per ounce
20 July: USD 19.70, EUR 17.88 & GBP 14.95 per ounce
19 July: USD 19.99, EUR 18.07 & GBP 15.18 per ounce
18 July: USD 19.72, EUR 17.83 & GBP 14.89 per ounce
Recent Market Updates
– Gold In Bull Market – “Every Reason For It To Continue” – Frisby In Money Week
– Is Gold Set To Hit $1,500 Per Ounce?
– Why Italy’s bank crisis could be a ‘ticking time bomb’
– Gold Holds Near Two-Week Low as Risk Appetite Rises on U.S. Data
– IMF Scraps Forecast for Global-Growth Pickup on Brexit Fallout
– Gold, Trump and Rates: Bank That Foresaw Rally Flags $1,500
– Gold Lower After Central Bank’s Surprise Move
– “We Are On the Cusp of an Explosion in the Silver Price” – John Embry
– Stocks Rally – Is Brexit Systemic Risks Contained?
– Britain has a new prime minister – here’s what that means for you
– Metals Caught Between Global Gloom, U.S. Job Gains as Gold Slips
– Central Bank Resumes Monthly Gold Buying in Bid to Diversify Reserves
