Daily Market Update

Video: Gold Surges To Record Highs In Emerging Market Currencies – New Highs In USD, EUR, GBP In the Coming Months?

– As emerging market currencies internationally collapse in value, there is a real risk of contagion in bond and currency markets
– Turkish lira falls 43.6% and Argentine peso falls 51% and are respectively the 2nd worst and worst internationally traded and non pegged performing currencies in 2018
– Venezuelan bolivar has completely collapsed
– Inflation is going to take off as wheat has surged 28% and oil is up 16% year to date in dollar terms

– Are Argentina, Turkey, South Africa, Indonesia and other emerging markets exceptions? Economists think so but contagion could spread rapidly
– Emerging-market crisis is driving safe-haven demand for German Bunds and soon gold
– Important not to think of gold solely in US dollar terms and realise that gold is again acting as a safe haven for those who need a currency hedge


Source: Goldprice.org


Market Performance YTD in USD (Finviz.com)

News and Commentary

Gold nudges up as dollar eases; Sino-U.S. trade tensions in focus (CNBC.com)

Mighty Dollar and Trade Fears Drag Silver Down to Two-Year Low (Bloomberg.com)

Gold near 1-wk lows as trade, emerging market concerns boost dollar (Reuters.com)

Bullard says Fed should hold off on raising rates (MarketWatch.com)

EU Looking to Sidestep U.S. Sanctions With Payments System Plan (Bloomberg.com)

Source: Bloomberg.com

Over 1.5 Billion Ounces of Silver Forecast to be Consumed in Crucial Green Technologies Through 2030 (SilverInstitute.org)

COMEX Silver To Test 2015 Lows (SilverSeek.com)

Winter is coming to the markets says Edwards – Gold will benefit (MoneyWeek.com)

Emerging-market selloff has all the hallmarks of contagion (Bloomberg.com)

Dublin’s housing market not yet ripe for a crash (DavidMCWilliams.ie)

Gold Prices (LBMA AM)

04 Sep: USD 1,195.75, GBP 932.57 & EUR 1,034.20 per ounce
03 Sep: USD 1,201.70, GBP 933.00 & EUR 1,035.75 per ounce
31 Aug: USD 1,206.85, GBP 927.58 & EUR 1,034.03 per ounce
30 Aug: USD 1,202.35, GBP 924.25 & EUR 1,028.49 per ounce
29 Aug: USD 1,204.30, GBP 935.14 & EUR 1,032.33 per ounce
28 Aug: USD 1,212.75, GBP 939.88 & EUR 1,037.02 per ounce

Silver Prices (LBMA)

04 Sep: USD 14.25, GBP 11.11 & EUR 12.33 per ounce
03 Sep: USD 14.53, GBP 11.27 & EUR 12.50 per ounce
31 Aug: USD 14.66, GBP 11.27 & EUR 12.56 per ounce
30 Aug: USD 14.67, GBP 11.27 & EUR 12.54 per ounce
29 Aug: USD 14.69, GBP 11.40 & EUR 12.60 per ounce
28 Aug: USD 14.90, GBP 11.56 & EUR 12.74 per ounce

Recent Market Updates

– September Is The Best Month For Gold and Worst Month For Stocks
– Pound Investors Face Months of Volatility Into Brexit Endgame
– This Week’s Golden Nuggets
– Video: “Financial War” Deepens as Russia Buys Gold and Dollar Hegemony At Risk – Rickards on CNN
– Will Indebted Nations Globally Follow Venezuela Into Hyperinflation?
– End Of Dollar Hegemony May Happen Soon and Badly Impact Indebted America
– 10 Incredible Photos From Venezuela Show The Disastrous Risks Of Currency Devaluation
– This Week’s Golden Nuggets
– Video: Is Silver Set for a Massive Breakout?
– Banks Now Long Gold, Short Dollar. What Do They Know?
– Russia Buys 800,000 Ounces Of Gold In July
– Gold Season – Is This It?
– This Week’s Golden Nuggets
– Gold And Silver Prices Fall 1.6% and 4.3% To Near 2 Year Lows
– London House Prices Fall At Fastest Annual Rate Since Height Of Financial Crisis

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Mark O'Byrne
Executive Director


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