Real time market
Gold $1,466.71 2.87 (0.2%)
Silver $16.91 0.04 (0.23%)
Platinum $887.37 -0.97 (-0.11%)

Goldline Week in Review

Release Date:  Saturday, October 12, 2019
WEEKLY SPECIAL

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METALS MARKET UPDATE – WHAT YOU NEED TO KNOW
  • Gold prices softened on trader hopes the U.S. may resolve its prolonged trade dispute with China.
  • Investors continue to nervously watch Brexit negotiations as the deadline for the UK exit approaches.
  • The Federal Reserve is expected to announce another interest rate cut.
  • An Iranian oil tanker was attacked by two missiles on Friday, heightening tensions in the Middle East.
  • Gold ended the week at $1,489.80/oz. Silver closed at $17.61/oz.

https://in.reuters.com/article/global-precious/gold-inches-lower-as-trumps-remarks-boost-trade-talk-hopes-idINKBN1WQ035?rpc=401&

METALS NEWS –

Global debt, negative interest rates and a new program of Quantitative Easing among the factors that will fuel gold prices according to precious metals researchers and analysts.

  • The editor and publisher of the TF Metals Report wrote that interest rate cuts and Quantitative Easing will require investors to own physical gold to protect their portfolios. "Precious metals prices have rallied in 2019 as global central banks reverse their policies of tightening and rate increases. And now even more rate cuts and restarted QE are on the way… In the months ahead they will cut rates to zero again, with many of these con artists actually championing the idea of negative rates as a cure for all their ills. It won't work. What will work is physical precious metal as a hedge against this madness. Already, the price of gold has reached new all-time highs in over seventy currencies. New all-time highs in dollar-priced gold are a near certainty in the months ahead. Thus NOW is the time to begin acquiring physical gold (and silver)." https://www.sprottmoney.com/Blog/more-rate-cuts-and-overt-qe-pending-craig-hemke-08-102019.html
  • Wells Fargo is advising investors to acquire defensive assets such as gold to protect themselves against global volatility. "Defensive assets have historically been the ones to choose during the times of heightened uncertainty and equity downturns, wrote Wells Fargo head of Global Market Strategy Paul Christopher… 'Between January 1926 and September 2019, U.S. Treasury bonds, precious metals (such as gold), and certain hedge fund strategies outperformed equities from the 12 months before a recession and up to the first half of a recession. Over this period, these assets maintained positive returns—even when equities experienced significant loss…." https://www.kitco.com/news/2019-10-10/Wells-Fargo-Time-to-look-at-gold-and-bonds-major-volatility-coming-in-2020.html
ECONOMIC NEWS –

Recession worries grow with economists forecasting a slower economy and the Federal Reserve plans for Quantitative Easing to ease the pain of a new recession.

  • A new survey of economists shows the risk of a new recession is rising. "The results of the survey, conducted the week of Sept. 9-16, come as many analysts see warning signs in the latest U.S. economic indicators, including a plunge in manufacturing activity to more than a 10-year low in September and a sharp slowdown in service-industry growth to levels last seen in 2016. Those reports last week heightened fears the economy may be flirting with a recession." https://www.cnbc.com/2019/10/07/nabe-economists-lower-outlook-see-rising-risk-of-recession.html
  • Investors must prepare for recession warns the "father" of the yield curve indicator. "'This is the time where you need to reflect upon your strategy. It's actually easy to manage assets when the economy is booming. It's much more difficult to manage into a turning point …It's way better to have a plan to go by than to find yourself in a situation where the recession hits and you have to improvise." https://www.cnbc.com/2019/10/08/inverted-yield-curve-guru-campbell-harvey-prepare-for-recession.html