Gold was higher last week (XAU +1.1%, LBMA +1.2%), as markets were volatile, and the US 2/10 curve turned negative, which has historically often preceded a recession.
Goldhub blog: Posts from August 2019
- Chinese gold prices rose modestly in July
- Au(T+D)’s trading volume in July extended its June surge
- The local gold premium saw a much lower volatility
- Imports registered another decline, dropping to 55t in July
- Gold withdrawals from Shanghai Gold Exchange (SGE) experienced the first rise in four months
- The People’s Bank of China (PBoC) added another 10t to its gold reserves
Many investors buy gold instinctively, as a long-term store of value. Charlie Morris, Head of Multi-Asset at UK investment manager Atlantic House Fund Management, has devised a more conventional way of assessing gold – using a tried and tested model.
Gold was higher by 4% last week (XAU +3.9%, LBMA +3.9%), as US/China trade negotiations hit a snag, the US dollar fell, and rates continued to fall. Gold prices are at all-time highs in over 20 countries, having rallied 8% in the past month and 17% this year in US dollars.
$Gold: consolidating above $1500/oz at the start of the week - last around $1502.80 following some volatility in early European trading. https://t.co/LdcEYztgbv
On Friday 2nd August, the Blueprint for Gold Spot Exchange in India was released at the India International Gold Convention (IIGC) in Amritsar. The report was produced by the industry steering committee, which is comprised of 27 major stakeholders of the bullion industry – both global and domestic and is chaired by the World Gold Council.
The inhabitants of the UK are surrounded. There’s no escape. Brexit is everywhere you turn. News broadcasts, front pages, dinner conversations, everywhere. Over three years (and counting) since the result, Brexit uncertainty remains a persistent part of the UK way of life and at the forefront of investors’ minds.
The definitive market source for gold demand data, our latest Gold Demand Trends report explains in detail the 8% rise in global demand in Q2.
Listen back to our lively and informative discussion of the key trends shaping gold demand in the second quarter...
Looking ahead we expect two macroeconomic trends to play a key role; financial market uncertainty and accommodative monetary policy will likely support gold investment demand.
Madame Wu Xiaoling, Chairwoman of the Board of the PBC School of Finance, Tsinghua University and former Deputy Governor of the People’s Bank of China, believes that gold has a crucial role to play in China’s continuing development and the internationalisation of the RMB.