LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Precious Metals Update Video: Gold Monthly Chart breaking out
By: Ira Epstein

FT's Martin Wolf: Who cares about the prices of useless metals and market rigging?
By: Chris Powell, GATA

The Drip, Drip, Drip of Recession
By: David Haggith

Anatomy of an Impulse Move in the Precious Metals
By: Rambus

Recession Rumbles
By: John Mauldin, Thoughts from the Frontline

COT Gold, Silver and US Dollar Index Report - July 19. 2019
By: GoldSeek.com

Gold Miners’ Q2’19 Preview
By: Adam Hamilton, CPA, Zeal Research

GoldSeek Radio: Bob Hoye
By: Chris Waltzek, GoldSeek Radio

Precious Metals Big Picture, as Silver Gets on Its Horse
By: Gary Tanashian

Why This Gold Rally Feels Different
By: Rick Ackerman, Rick's Picks

 
Search

GoldSeek Web

 
Flight To Safety - Gold Rises As Stocks, European Bonds Again See Sharp Falls


 -- Published: Thursday, 16 October 2014 | Print  | Disqus 

Today’s AM fix was USD 1,241.00, EUR 969.38 and GBP 775.87 per ounce.
Yesterday’s AM fix was USD 1,223.50, EUR  967.58  and GBP 768.63 per ounce.

Gold climbed $4.40 or 0.36% to $1,237.80 per ounce and silver slipped $0.03 or 0.17% to $17.43 per ounce yesterday. Gold is now nearly 5% above its recent lows and is again acting as a hedging instrument in investment portfolios after sharp falls in stock and many bond markets.

Gold in U.S. Dollars - 2 Years (Thomson Reuters)    

Gold retained sharp overnight gains today to trade near its highest in over a month as investors sought safety amid increasing concerns over a slump in the global economy. Gold rose to its highest since September 11 at $1,249.30 yesterday.

This morning gold for Swiss storage or for immediate delivery rose 0.2% to $1,244 an ounce by 12:00 in London, according to Bloomberg generic pricing. Futures trading volume was 64% above the average for the past 100 days for this time of day.

Global stocks plummeted yesterday and again today, on investor concern that U.S. and Chinese inflation data are signalling a global slowdown in economic activity.  U.S. retail sales fell in September and producer prices declined for the first time in a year.

S&P 500 Stock Index - 10 Years (Thomson Reuters)

The MSCI All-Country World Index of equities slumped to an eight month low yesterday and the Bloomberg Commodity Index has retreated to the lowest level since July 2009.

The risks of a stock market crash are quite high and the complacency of recent months has inevitably come to a shuddering halt. 

Weak U.S. data and global growth concerns will likely prompt the Federal Reserve to delay a hike in interest rates, a potential boost for non-interest-bearing gold - as we have warned of for some time.


Sharelynx.com 

Europe and the debt laden world risks falling into a downward spiral of falling wages, prices and deflation.

Investors fled into safe haven gold bullion, bonds and Japanese yen as the dollar and oil declined.

Yesterday’s, stampede into non risky assets resulted in a massive rally in U.S. Treasury bonds, moving the benchmark 10-year note's yield as low as 1.865%, its lowest since May 2013.

Today, markets are in a panic.  Greek stocks, which collapsed yesterday, are down another 2% today.
Italian stocks are down 3.6% right now, on top of the 4% decline yesterday.

The FTSE and DAX are down nearly 2% and France is down nearly 3%.

Irish 10 Year Bonds  (Thomson Reuters)

There is huge volatility in stock markets and European bonds have seen sharp selling again, with Greek 10-year interest rates surging to nearly 9% and Irish bonds rising over 20 basis points to over 1.9%.

Spanish 10-year government bond yields rose 26 basis points to 2.37 percent, while equivalent Italian yields were 28 bps up at 2.68 percent. Portuguese yields rose 27 bps to 3.57 percent.

As we have warned for many months now, the Eurozone and indeed global financial crisis is far from over. We had a brief interlude after the starter but the main course is soon to commence.

Get Breaking News and Updates On Gold and Markets Here

See Essential Guide To Gold and Silver Storage In Switzerland


| Digg This Article
 -- Published: Thursday, 16 October 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2019



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, Gold Seek LLC makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.