Gold Tests $1,700/oz Again Taking YTD Gains to 10% As Global Stocks Plunge


◆ Gold reached new multi year highs today, reaching its highest since December 2012 at $1,702.56 per ounce prior to profit taking in gold futures saw gold fall back to $1,670/oz.

◆ Gold prices rose above the $1,700 per ounce level for the first time in more than seven years, as stock market routs continued due to concerns about the impact of the rapidly spreading coronavirus

◆ The health crisis and economic crisis being triggered by the pandemic is impacting risk assets and driving investors towards safe haven gold which saw gains of over 6.5% last week and nearly 10% year to date.

◆ Global stocks are crashing with the Nikkei closing down 6%, the Euro Stoxx down 7.8%, the FTSE down 6.5% and S&P futures down another 5%

◆ Already massively overvalued stock markets are in full on crash mode as investors anticipate a severe recession or Depression as the coronavirus becomes the ‘straw that break’s the camel’s back’.

◆ Gold is one of the top performing assets in the last twelve months and so far in 2020 with a gain of 28% in the last 12 months and 10% year to date. Year to date losses in stock markets are between 12.75% on the S&P and losses of 19% on both the Nikkei and the Euro Stoxx 50.


Source: Thomson Reuters


NEWS & COMMENTARY

Gold slides from 7-year high as traders cover margins

Virus Jitters Power Gold By 6.8% In Week – Best Week in Four Years

Dow futures tumble 900 points as all-out oil price war adds to coronavirus stress

Oil plunges over 20% after Saudi Arabia slashes prices on OPEC deal collapse

Saudis Plan Big Oil Output Hike, Beginning All-Out Price War with a $8 a barrel price discount

OPEC deal collapse sparks price war: ‘$20 oil in 2020 is coming’

Greenspan Can’t Rule Out Negative Rates on 30-Year U.S. Bonds

North Korea has fired an unidentified projectile, South Korean military says


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

06-Mar-20 1687.00 1683.65, 1296.80 1290.85 & 1490.13 1484.31
05-Mar-20 1647.45 1659.60, 1274.47 1284.70 & 1474.63 1482.69
04-Mar-20 1644.80 1641.85, 1286.73 1281.63 & 1475.06 1477.83
03-Mar-20 1599.05 1615.50, 1249.98 1260.25 & 1438.03 1446.03
02-Mar-20 1609.70 1599.65, 1258.79 1251.41 & 1451.47 1437.29
28-Feb-20 1626.35 1609.85, 1262.37 1254.88 & 1474.61 1468.18
27-Feb-20 1646.60 1652.00, 1278.58 1282.45 & 1505.32 1504.97
26-Feb-20 1647.95 1634.90, 1273.37 1264.76 & 1515.45 1505.42
25-Feb-20 1655.90 1650.30, 1275.54 1271.39 & 1528.06 1522.73
24-Feb-20 1682.35 1671.65, 1304.49 1293.69 & 1555.84 1540.26



Financial Contagion – What Are The Risks?



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




Mark O'Byrne

Also on news-goldcore-com

Videos

Are We In A Financial Bubble? Peter Grandich Interview

Marc Faber Interview 2021: Don’t Sell Your Gold

Buy Physical Silver Now- Gary Savage

Blog posts

Central Banking Is A Joke, And You Are The Punchline

British Prime Minister Boris Johnson gets paid less than Canadian Prime Minister Justin Trudeau. Each of them is getting less salary than US President Joe Biden’s US$400,000. Why do we want you to know this?  Because each is paid well enough already. And each of them holds a job that contains implied fiduciary duties to […]

READ MORE

Are We In A Financial Bubble? Peter Grandich Interview

Peter Grandich is Dave Russell’s guest on GoldCore TV this week and talks about how he believes that the US financial, political, and military reputation has been seriously damaged. Watch the Video to Learn More Make sure you don’t miss a single episode… Subscribe to our YouTube channel Don’t Sell Your Gold!Watch Dr. Marc Faber on GoldCore […]

READ MORE

Money printing is worse than bad sushi!

Today we watched a video of the Chinese demolishing dozens of high-rise apartment blocks per government mandate, the video is here. This implosion video reached us on the same day that China’s largest real estate development company Evergrande seems ready to also implode its balance sheet.  Here is a story from Reuters with a video […]

READ MORE

Featured

Gold posts its first loss in 11 sessions as Trump’s speech ebbs Iran war worries

READ MORE

China and Russia Are Buying Gold and They Don’t Care How Much It Costs

READ MORE

Gold Is Overvalued in Short-Term, Says Goldcore’s O’Byrne

READ MORE
Newsletter
Category
Archives
Popular

No posts available

Videos

Are We In A Financial Bubble? Peter Grandich Interview

Marc Faber Interview 2021: Don’t Sell Your Gold

Buy Physical Silver Now- Gary Savage

Blog posts

Central Banking Is A Joke, And You Are The Punchline

British Prime Minister Boris Johnson gets paid less than Canadian Prime Minister Justin Trudeau. Each of them is getting less salary than US President Joe Biden’s US$400,000. Why do we want you to know this?  Because each is paid well enough already. And each of them holds a job that contains implied fiduciary duties to […]

READ MORE

Are We In A Financial Bubble? Peter Grandich Interview

Peter Grandich is Dave Russell’s guest on GoldCore TV this week and talks about how he believes that the US financial, political, and military reputation has been seriously damaged. Watch the Video to Learn More Make sure you don’t miss a single episode… Subscribe to our YouTube channel Don’t Sell Your Gold!Watch Dr. Marc Faber on GoldCore […]

READ MORE

Money printing is worse than bad sushi!

Today we watched a video of the Chinese demolishing dozens of high-rise apartment blocks per government mandate, the video is here. This implosion video reached us on the same day that China’s largest real estate development company Evergrande seems ready to also implode its balance sheet.  Here is a story from Reuters with a video […]

READ MORE

Featured

Gold posts its first loss in 11 sessions as Trump’s speech ebbs Iran war worries

READ MORE

China and Russia Are Buying Gold and They Don’t Care How Much It Costs

READ MORE

Gold Is Overvalued in Short-Term, Says Goldcore’s O’Byrne

READ MORE