Real time market
Gold $1,487.19 -3.60 (-0.24%)
Silver $17.50 -0.12 (-0.7%)
Platinum $892.02 1.31 (0.15%)
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BONUS GOLD!

Release Date:  Saturday, September 14, 2019
Deal of the week

BONUS GOLD!

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METALS MARKET UPDATE – WHAT YOU NEED TO KNOW
  • Gold prices moved higher in Europe but lower in the US as investors digested news regarding the U.S.-China trade war.
  • Monetary easing in Europe fueled higher gold prices in the EU.
  • The Federal Reserve is expected to lower interest rates again which is positive for gold.
  • President Trump has urged lower and possibly negative interest rates which makes gold an attractive investment.
  • Gold ended the week at $1,488.90/oz. Silver closed at $17.52/oz.

https://www.sharpspixley.com/articles/lawrie-williams-gold-see-saw-up-in-europe-down-in-usa_296308.html

METALS NEWS – CENTRAL BANKS PROFIT FROM GOLD'S RISE AS ANALYSTS SEE NEW RECORDS FOR THE YELLOW METAL

Gold's top performance has bolstered the fortunes of countries like Russia and China who have poured dollars into gold. Analysts such as banking giant Citigroup see gold continuing its rise to new records.  

  • Efficient-markets analyst Tyler Durden wrote that a "perfect storm" is brewing to devastate the world economy and send gold prices to new records. "There is no end in sight to the flow of negative incoming data. The Fed is clearly not going to intervene, at least not until the situation becomes so horrendous that average people start demanding a response. Brexit is looking more and more volatile every day, and no doubt it will be blamed for economic tremors in the EU, just as the trade war will be blamed for the recession in the US. These are the "perfect storms" that drive gold to record highs. A repeat of gold's performance during the 2008 crash is certainly possible. In fact, I think the next rally in metals will far surpass the 2008 event." https://www.zerohedge.com/news/2019-09-07/gold-prices-will-keep-rising-because-crash-conditions-are-becoming-obvious
  • DoubleLine Capital's deputy chief investment officer Jeffrey Sherman told CNBC viewers that gold will shine in an negative interest rate environment. "'[I]f you think that we're going negative [interest rates] and it's going to cause a problem with the financial system, I think that little shiny rock may be something that does perform very well.'"  In June, DoubliLine's CEO Jeff Gundlack said he was "long" in gold. "Gold is up more than 11% since Gundlach's comments in June versus the S&P 500's 3.3% gain."  https://www.cnbc.com/2019/09/11/doublelines-jeff-sherman-cautions-against-treasury-bid-likes-gold.html
ECONOMIC NEWS – INVESTORS LOOKING AT HISTORIC VOLATILITY

Despite easing in the U.S.-China trade war, analysts see a global economy that is on the tipping point of recession fueled by reckless central bank policies and growing debt.

  • A survey of private economists revealed that most do not believe the U.S. will be able to reach its target of 3% GDP growth this year and GDP will continue to fall in coming years.  "Private-sector economists surveyed in recent days expect U.S. gross domestic product to expand an inflation-adjusted 2.2% this year on average, measured from the fourth quarter a year earlier. Forecasters expect economic growth will slow to 1.7% in 2020 and will be 1.9% in 2021." https://www.wsj.com/articles/economists-dont-see-path-to-3-growth-in-2019-11568296800
  • Oil man, corporate raider and philanthropist T. Boone Pickens died this week at the age of 91.  "Days after Pickens suffered "a Texas-sized fall" in July 2017, he wrote a LinkedIn post titled "Accepting (or Embracing) Mortality." "Now, don't for a minute think I'm being morbid," he wrote. "Truth is, when you're in the oil business like I've been all my life, you drill your fair share of dry holes, but you never lose your optimism. There's a story I tell about the geologist who fell off a 10-story building. When he blew past the fifth floor he thought to himself, 'So far so good.' That's the way to approach life. Be the eternal optimist who is excited to see what the next decade will bring." https://www.cnbc.com/2019/09/11/t-boone-pickens-oracle-of-oil-and-corporate-raider-dies-at-91.html