Buy gold as “insurance is warranted” Deutsche Bank have advised in a note issued today.
The embattled German bank has said that rising economic risks and market turmoil mean investors should buy gold for insurance.
Market Performance – 2016 YTD via Finviz.com
“There are rising stresses in the global financial system; in particular the rising risk of a U.S. corporate default cycle and the risk of a sharp one-off renminbi devaluation due to the sharp increase in China’s capital outflows,” Deutsche Bank added.”Buying some gold as ‘insurance’ is warranted,” as reported by CNBC.
LBMA Gold Prices
26 Feb: USD 1,231.00, EUR 1117.58 and GBP 878.87 per ounce
25 Feb: USD 1,235.40, EUR 1,121.41 and GBP 887.10 per ounce
24 Feb: USD 1,232.25, EUR 1,122.33 and GBP 885.52 per ounce
23 Feb: USD 1,218.75, EUR 1,106.62 and GBP 863.43 per ounce
22 Feb: USD 1,203.65, EUR 1,088.17 and GBP 849.21 per ounce
After initial falls again on Sunday night, Monday morning, gold has eked out slight gains this week in dollar and euro terms and has seen more strong gains in sterling terms as sterling continues to weaken on BREXIT and UK economy concerns.
Silver is lower in dollars and euros but has made small gains in sterling terms ($15.12/oz, €13.74, £10.80).
