◆ The coronavirus may plunge the global economy into the worst downturn and crisis since 2009, the OECD has warned as the virus is now present on every continent except Antarctic. ◆ As the epidemic continues to expand rapidly worldwide, topping 90,000 cases and 3,000 deaths, the OECD has urged coronavirus affected countries to take […]
Jim Rickards via The Daily Reckoning The coronavirus continues to take its toll on the stock market. For investors accustomed to “buying the dip,” this is quite a change. As noted macroeconomic analyst Mohamed El-Erian said earlier today: I understand the inclination to buy on the dip. I understand that the path of least resistance […]
◆ If history, data and charts are anything to go by, even with gold at seven-year highs, there’s still room for more gains ◆ Holdings in gold ETFs remain very low versus total assets ◆ Gold is a ‘resilient ballast’ in recessions and in recessions gold gains 11.5% and stocks fall 34.1% on average (see […]
On “Bloomberg Commodities Edge”, Bloomberg’s Alix Steel and Naureen Malik talk with Jeff Currie, global head of commodities research at Goldman Sachs. They discuss Goldman’s bullish stance on gold. Gold is gaining on mounting speculation China and other central banks will unleash stimulus to counter the economic pain from the coronavirus outbreak, boosting liquidity in […]
Newstalk interviewed Mark O’Byrne, Research Director at GoldCore about gold’s value and utility and why it has had a value throughout history and it’s continuing value today as a hedge and a safe haven monetary asset. Warren Buffett’s simplistically negative comments regarding gold are “wrong on so many levels” according to Mark O’Byrne of GoldCore. […]
Gold prices surge as coronavirus fears impact on equities. Gold rose more than 2.5% to a seven-year high on Monday of $1,688 per ounce. (Irish Times) Irish gold brokers GoldCore said on Monday that it had witnessed a massive spike in transactions on foot of the jump in coronavirus cases outside China. Fears of a […]
IGTV interviewed Mark O’Byrne, Research Director at GoldCore about the outlook for gold and silver bullion. He is bullish on both precious metals in the medium and long term. The fundamentals are very strong with strong central bank demand and ETF gold holdings reaching an all time record high due to deepening political and economic […]
◆ Gold has surged to new record highs in euros, yen, Canadian, Australian and New Zealand dollars and most emerging market currencies. ◆ Gold has built on recent gains and reached seven year highs in dollars at $1,636/oz and reached new record highs in euros today at €1,515.80/oz. ◆ Safe haven gold has surged to […]
◆ Gold soared to new record highs in euros today at €1,500.11/oz and broke through the important $1,600 level to as high as $1,619.18 per ounce as traders and investors diversify out of more pandemic exposed risk assets to traditional safe havens ◆ Silver surged to $18.44/oz and is 4% higher this week, while palladium […]
◆ Silver bullion is set to outperform gold, other precious metals and the vastly over valued risk assets of stocks and bonds in the coming years ◆ The record nominal high of $50 in 1980 and in 2012 will almost certainly be seen in the next two years ◆ Never miss breaking precious metals news […]
◆ The end of Saudi Arabia and the coming revolution in Islam according to Robert Fisk ◆ The end of Saudi Arabia means the end of the petrodollar which will likely lead to the dollar falling severely against gold resulting in severe inflation, nationalisation of retirement savings and other forms of wealth confiscation according to […]
◆ State Street’s senior multi-asset strategist, Benjamin Jones, discusses the importance of gold in asset allocation on “Bloomberg Daybreak: Europe” ◆ “Bitcoin or gold?” “I prefer gold. Bitcoin is interesting but would I suggest it to my clients … definitely no … but it might be a bit of fun to own on the side” […]
◆ Gold prices surged to new all time record highs in euros today at €1,456 per ounce as the single currency came under selling pressure. ◆ The record highs are due to safe haven demand due to a weaker euro as the German and eurozone economies slow and on concerns about the impact of a […]
◆ In a rare look inside Bank of England’s gold bullion vault, the BBC is shown and reports that £194 billion worth of gold bars are stored there ◆ They hardly ever let anyone in to film, but the BBC’s Security Correspondent, Frank Gardner, is given access to the Bank of England’s gold vault to […]
◆ Sales of gold jewelry in China are set to plummet this year as the economic damage from the deadly coronavirus crisis widens ◆ People not “in mood” to shop for jewelry says China Gold Association ◆ Luk Fook shortens business hours at stores to curb infections ◆ Editors note: China’s gold jewelry demand will […]
◆ Gold coins including gold sovereigns found in drawers of deceased retiree’s cottage sell at auction for £80,000 ◆ British gold coins including gold sovereigns from the Royal Mint found in drawers and cupboards of cottage fetch £80,000; one British gold sovereign found in a sugar bowl ◆ Auctioneer John Rolfe expected little before he […]
via Bloomberg Gold climbed for a fourth day as investors weighed the unfolding coronavirus crisis, including a stark warning from the head of the World Health Organization about the potential for more cases beyond China and signs the disease is spreading in the key Asian trading hub of Singapore. Prices rose as the death toll […]
Investors Are Shifting Back Into Gold. It Looks Like a Smart Move by Randall W. Forsyth via Barron’s ◆ With no opportunity cost to holding a zero-yield asset such as gold, investors increasingly are adding it to their portfolios as a hedge. ◆ Gold retains its intrinsic value, something no paper currency has managed to […]
◆ Total known gold holdings in exchange traded funds (gold ETFs) have reached a new record highs as investors diversify into gold ◆ Known gold holdings surge above previous high from 2012 after expanding for past four years and surging in 2019◆ Recent allocations to gold ETFs comes as investors weigh impact of a global […]
◆ “Gold will go to $2,500 per ounce” renowned geopolitical and financial cycle expert Charles Nenner stands by his prediction of record gold prices. ◆ “Cycles show me that gold and silver will be going up for a couple of years. I take profits in a short term top, but … I am in for […]