Gold Surges To All Time Record High Over $1,940/oz


◆ Gold prices have surged through the all time record nominal high of $1,915/oz in 2011 to over $1,942/oz today due to concerns about the outlook for stocks, bonds and other assets amid a very vulnerable U.S. and global economy.

◆ Gold has surged to new record highs in all major currencies today including new record highs in British pounds at £1,514/oz and in euros at €1,660/oz due to concerns about the outlook both for assets and currencies such as the euro, pound and all fiat currencies.

Asset Performance 2020 YTD (Source: Finviz)


◆ Silver has surged another 6% today alone to $24.27/oz and is building on the strong gains of over 18% seen last week. As expected silver is playing catch up to gold and has had gains of 35.5% in July. We expect to also reach record nominal highs in the coming months and challenge the $50/oz level seen in 2011 and 1980.

◆ Most analysts including ourselves believe the gains seen in both gold and silver are sustainable and we expect to see gold rise above $2,000/oz in the coming weeks and silver will target $30/oz as despite the recent gains, it remains undervalued versus gold and versus stocks.

◆ Gold and silver’s gains in all currencies are due to concerns that global currencies will be devalued in the coming months and years as currency creation and debasement on a scale never before seen in world history intensifies.

◆ A sharp global recession or Depression is inevitable and the only question is how severe and how long it will be. Already indebted economies are vulnerable due to fear mongering, hype and hysteria about the virus and due to the draconian global lockdowns which are badly impacting families and family businesses and destroying small to medium enterprises globally.

◆ There remain many major geopolitical, monetary and systemic risks such as Brexit and risks to the viability of the Eurozone itself, very significant tensions with an increasingly powerful China and indeed risks to the banking sector and large systemically important banks such as Deutsche Bank.

◆ Gold and silver will also benefit from the civil war politics in the U.S. as Trump and Biden limber up for what is set to be the most vicious election battle in American history which could further destablise an already vulnerable U.S. and the U.S. dollar.



NEWS and COMMENTARY

Gold shoots $30 higher to fresh record above $1,900

Gold soars to all-time high as dollar dive boosts safety rush

Gold Reaches Record Highs vs the US Dollar, Silver Soaring towards $25

Gold rallies to record and euro tops $1.17 while European travel stocks slump on Spain quarantine

Mnuchin says $1 trillion GOP coronavirus relief plan ready, will ‘move very quickly’ with Democrats

Authers: A mighty short squeeze may be building in gold

The Case for Holding Gold

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

24-Jul-20 1893.85 1902.10, 1486.67 1490.30 & 1631.55 1638.09
23-Jul-20 1882.35 1878.30, 1480.28 1477.47 & 1624.47 1621.54
22-Jul-20 1851.00 1852.40, 1462.85 1456.91 & 1604.82 1598.44
21-Jul-20 1823.20 1842.55, 1436.86 1449.35 & 1594.21 1608.36
20-Jul-20 1810.30 1815.65, 1437.92 1438.18 & 1580.21 1590.87
17-Jul-20 1802.90 1807.35, 1435.47 1442.45 & 1578.98 1581.07
16-Jul-20 1804.60 1807.70, 1438.09 1436.04 & 1583.72 1581.56
15-Jul-20 1809.30 1804.60, 1436.22 1441.31 & 1582.96 1579.57
14-Jul-20 1798.20 1801.90, 1436.58 1440.62 & 1583.14 1581.71
13-Jul-20 1808.05 1807.50, 1435.23 1432.26 & 1598.32 1591.68
10-Jul-20 1805.75 1803.10, 1433.40 1427.33 & 1599.35 1594.84
09-Jul-20 1812.45 1812.10, 1434.01 1431.74 & 1600.57 1600.08
08-Jul-20 1799.35 1811.10, 1438.40 1438.74 & 1596.38 1598.48

 


Access Latest Goldnomics Podcast (Part II) Here



Own gold coins and bars in the safest vaults in Zurich, Switzerland with GoldCore. Learn why Switzerland remains a safe haven jurisdiction for owning precious metals. Access Our Most Popular Guide, the Essential Guide to Storing Gold in Switzerland here


Receive Our Award Winning Market Updates In Your Inbox – Sign Up Here



Mark O'Byrne

Also on news-goldcore-com

Videos

Dinner Party with Marc Faber, David Morgan and Jim Rickards

Will Silver Prices Go Up to $300?

Brent Johnson Interview-The Dollar Milkshake Theory Explained

Blog posts

Why we couldn’t be happier that gold is boring

We’re the first to admit that investing in gold can be pretty boring. Don’t get us wrong, when you first decide to buy gold then the newness of it is exciting, as you choose which gold bullion dealer to use then it is interesting and when you actually see the gold bars or coins appear […]

READ MORE

Dinner Party with Marc Faber, David Morgan and Jim Rickards

Imagine you could throw a dinner party with some of the great minds of the gold and silver world. Who would you invite? What would you ask them?  GoldCore newcomer Jan Skoyles did just this. Going through the GoldCore TV archives, Jan found some unused footage with some of the greats of the gold and […]

READ MORE

More energy blows are dealt to Europe, causing a cold chill to be even colder

When people ask why they should invest in gold or buy silver coins, we often explain that they should do so because they are a form of insurance. Many of us are taking steps right now to protect ourselves from the impact of inflation on our day-to-day spending, others are trying to manage the increase […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Dinner Party with Marc Faber, David Morgan and Jim Rickards

Will Silver Prices Go Up to $300?

Brent Johnson Interview-The Dollar Milkshake Theory Explained

Blog posts

Why we couldn’t be happier that gold is boring

We’re the first to admit that investing in gold can be pretty boring. Don’t get us wrong, when you first decide to buy gold then the newness of it is exciting, as you choose which gold bullion dealer to use then it is interesting and when you actually see the gold bars or coins appear […]

READ MORE

Dinner Party with Marc Faber, David Morgan and Jim Rickards

Imagine you could throw a dinner party with some of the great minds of the gold and silver world. Who would you invite? What would you ask them?  GoldCore newcomer Jan Skoyles did just this. Going through the GoldCore TV archives, Jan found some unused footage with some of the greats of the gold and […]

READ MORE

More energy blows are dealt to Europe, causing a cold chill to be even colder

When people ask why they should invest in gold or buy silver coins, we often explain that they should do so because they are a form of insurance. Many of us are taking steps right now to protect ourselves from the impact of inflation on our day-to-day spending, others are trying to manage the increase […]

READ MORE

Featured

Rick Rule- Should You Invest In Gold 2022

READ MORE

Jim Rogers- The Worst Bear Market is Coming

READ MORE