Gold Breaks Out in Dollars to Highest Level Since October 2012, Should See Buyers Come in



◆ Gold rose to a high of €1,779.10 during trading yesterday, the highest levels seen since October 2012.

As we move towards the end of June gold prices have continued to rise to levels not seen since 2012.

The yellow metal continues to flirt with $1,800 and while that level is primarily a psychologically nice round number, a monthly close above $1,775 would be very bullish for gold and could trigger some fresh new buying that will send it higher to test the $1,800 level.

However, strong selling pressure may emerge as the month end draws near.



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NEWS and COMMENTARY

Gold prices slip again as U.S. dollar firms, despite rise COVID-19 cases

Gold firm as mounting virus cases drive safe haven demand

IMF warns disconnect in financial markets risks a correction in asset prices

Total of those receiving unemployment benefits falls below 20 million

The Second Great Depression



GOLD PRICES (USD, GBP & EUR – AM/ PM LBMA Fix)

24-Jun-20  1775.70 1766.05, 1420.74 1416.90 & 1573.63 1567.55
23-Jun-20  1755.60 1768.90, 1409.85 1416.36 & 1556.17 1560.70
22-Jun-20  1745.45 1761.85, 1405.26 1418.11 & 1555.72 1567.17
19-Jun-20  1728.55 1734.75, 1392.17 1401.16 & 1541.18 1545.49
18-Jun-20  1732.65 1719.50, 1384.73 1383.51 & 1539.29 1532.93
17-Jun-20  1717.30 1724.35, 1368.69 1375.17 & 1527.88 1537.26
16-Jun-20  1728.35 1719.85, 1366.61 1361.78 & 1525.44 1526.54
15-Jun-20  1710.40 1710.45, 1365.58 1361.52 & 1520.72 1516.83
12-Jun-20  1735.85 1733.50, 1374.10 1378.13 & 1533.28 1534.15
11-Jun-20  1731.90 1738.25, 1361.79 1373.74 & 1519.57 1528.10

10-Jun-20  1717.65 1722.05, 1346.64 1350.26 & 1511.88 1515.23
09-Jun-20  1707.50 1713.50, 1350.46 1348.87 & 1515.41 1510.62
08-Jun-20  1692.00 1690.35, 1333.97 1331.32 & 1496.91 1494.61



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Mark O'Byrne

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