Tag Archives: Daily Market Update

Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years Gold rose as the dollar fell to near a three-year low against a basket of currencies on Friday, heading for its biggest weekly loss in nine months, as a slew of bearish factors including firming inflation and a fall in retail sales and industrial production hit the dollar. Gold Price in USD, Aug 2008 - 2017(see more posts on...

Is The Gold Price Heading Higher? IG TV Interview GoldCore Research Director at GoldCore, Mark O’Byrne talks to IG TV’s Victoria Scholar about the outlook for the gold price. In this interview, Mark O’Byrne, research director at Goldcore, says the fact that the gold price did not spike during last week’s equity sell-off was to be expected. He said even at the height of the global financial crisis, amid the collapse in...

Global Debt Crisis II Cometh – Global debt ‘area of weakness’ and could ‘induce financial panic’ – King warns– Global debt to GDP now 40 per cent higher than it was a decade ago – BIS warn – Global non-financial corporate debt grew by 15% to 96% of GDP in the past six years – US mortgage rates hit highest level since May 2014– US student loans near $1.4 trillion, 40% expected to default in next 5 years– UK consumer debt...

– Sovereign wealth funds investing in gold for long term returns – PwC – Gold has outperformed equities and bonds over the long term – PwC Research – Gold is up 6.7% and 6.8% per annum over 10 and 20 year periods; Stocks and bonds returned less than 5.2% respectively over same period (see PwC table) – From 1971 to 2016 (45 years), “gold real returns were approximately 10% while inflation increased 4%” – Gold also...

Bitcoin and Crypto Prices Being Manipulated Like Precious Metals? – FSN Interview GoldCore [embedded content] Kerry Lutz of the Financial Survival Network (FSN) interviewed GoldCore’s Mark O’Byrne about the outlook for crypto currencies, financial markets and precious metals. – Are bitcoin and crypto prices being manipulated like precious metals? – Is there a coordinated backlash against bitcoin from JPM and powerful...

“This Is Where They Completely Lost Their Minds” – Hussman– Hussman warns ‘the S&P 500 to lose approximately two-thirds of its value over the completion of this cycle’– ‘the market has lost value, even since 2009, when overvalued, overbought, overbullish conditions were joined by divergent internals’– Believes the market is going to learn lessons about the crash ‘the hard way’ - Click to enlarge In an almost...

Peak Gold: 2017 Supply Flat As China Output Falls By 9% – China gold production falls by 9% to 420.5t in 2017– Chinese gold demand rose 4% to 953.3t in same period– China is largest producer and accounts for 15% of global gold production– China does not export gold. Increasing foreign gold acquisitions to meet demand– Global gold production flat – 3,269t in ’17 from 3,263t in ’16, smallest increase since ’08– Peak...

Crypto Currency Backlash Sees Flight From Cryptos and Bitcoin – Bitcoin falls from $20,000 to below $6,000 and bounces back to $8000– Top 50 crypto currencies lost over 50% of value in 24 hours– Over $60 billion wiped off entire crypto currency market in 24 hours– Markets concerned about increased regulation, manipulation & country-wide bans– ‘Growing global unease about risks virtual currencies pose to investors...

– Gold gains 0.6% in USD and surges 1.7% in euros and pounds – European stocks fall more than 3% at the open after sharp falls in Asia – DJIA falls 1,175 points, S&P 500 down 4.1% and Nikkei plummets 4.7%– Gold rises from $1,330 to $1,342, £942 to £960 and €1,067 to €1,085 /oz– Bitcoin crashes another 10% and has now plummeted by 70% to below $6,000 – Increased risk aversion will drive safe haven demand for gold as...

– Shrinkflation continues to take hold across UK, Ireland and US for sixth year running– Shrinkflation sees consumers gets less product, but at the same or increased price– 2,500 products have shrunk according to Office of National Statistics in UK– Reported inflation is between 1.7% and 3% but actually much higher– Shrinkflation is financial fraud, unreported inflation in stealth mode– Gold is hedging inflation and...