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

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

The Fed Is Running Out Of Bullets
By: Dave Kranzler

This Billionaire Says Gold Has Everything Going For It
By: Frank Holmes, US Funds

Will Inflation “Save” Social Security?
By: Stefan Gleason

Dancing closer to the exits
By: Richard (Rick) Mills, Ahead of the herd

The Trade No One Saw Coming
By: Avi Gilburt

Robert Lambourne: BIS' activity in gold market continues to diminish
By: Robert Lambourne

Fed Meet: Outrageously Bullish For Gold
By: Stewart Thomson, Graceland Updates

Precious Metals Update Video: FOMC today
By: Ira Epstein

Is the Fed Dead?
By: David Haggith

Can Western Central Banks Continue Capping Gold At $1350?
By: Dave Kranzler


GoldSeek Web

“Red October” Highlights Importance of Rebalancing Portfolios and Gold’s “Very Positive” Outlook

 -- Published: Friday, 2 November 2018 | Print  | Disqus 

After a volatile month, which is being called “Red October,” our latest video update was released and we considered the sharp fall in stock markets globally, falling property markets in the UK and Australia and gold’s safe haven gains in all currencies.

Gold acted as a hedge in all currencies in October, rising 1.7% in dollars, 4.4% in euro terms and 4.2% in sterling terms. Bitcoin and other crypto currencies did not act as hedges or stores of value and bitcoin was down nearly 4%.

October Market Performance (Source:

As we told Bloomberg yesterday (excerpt below), the long term outlook “looks very positive for gold”:

“Risk aversion has crept back in as we’ve seen declines in emerging markets around the world and now Asian markets following,” said Mark O’Byrne, Dublin-based executive director at brokerage Goldcore Ltd. “Fund managers are rebalancing after a very good run on the stock market, taking chips off the table and putting money into gold and cash, hence why the dollar has also risen.”

Gold and the dollar may continue to rise in tandem in the short term, “but I’d be amazed if that continues into 2019,” said O’Byrne. U.S. policymakers won’t want the currency to go much higher, whereas gold demand is just starting to come back. “So although I wouldn’t want to bet against the dollar in the short-term, longer term it looks very positive for gold.”

Market volatility and the ever more uncertain economic outlook are increasing the demand for and diversification into physical gold by investors, store of value buyers and indeed central banks (see News today).

Gold bullion buying by central banks has reached its highest level in almost three years – since Q4, 2015. There was nearly $6 billion worth of gold accumulated in the third quarter alone. It was surprising in this context to see the gold price actually weaken and remained depressed until the pick up just seen in October.

Central bank gold buying was strong and so too was global investor demand for gold coins and bars.  They have seen a sharp 28% rise year on year as bullion buyers accumulated on gold’s price weakness.

This very robust global demand was offset by surprisingly heavy selling of the U.S. gold ETF (SPDR) during the same period. We will consider these important demand trends in more detail next week.

From all the GoldCore team – have a great weekend!

Market Updates and Key News this Week

Alarm Bells Ring and Gold Rises In October As Stocks and Property Fall Globally

Gold Analysts At LBMA See 25% Return To $1,532/oz In 12 months

Gold Improves Investment, Pension and Central Bank Portfolio’s Risk-Adjusted Returns

How Gold Outshone Bitcoin In October

Gold Is Acting As a “Hedge and Safe-haven Asset, Exactly When Investors Need One” said GoldCore

Charts this Week

Gold in USD – 10 Years –

Source: ZeroHedge

Source: U.S. Global Investors

Today’s News and Commentary

“Longer Term It Looks Very Positive For Gold” (

Gold buying by central banks hits its highest level in almost three years (

Gold prices steady; U.S. nonfarm payroll data awaited (

Central bank gold buying hits highest level since 2015 – $5.8 Billion in Q3 (EconomicTimes)

ISM manufacturing index falls to 6 month low in October as price rises, shortages weigh (

Source: World Gold Council

Gold Demand Trends Third Quarter 2018 (

The Best And Worst Performing Assets In “Brutal” October (

Euro Bid to Challenge King Dollar Collides With Political Risk (

You have far more control over your money than the system would have you believe (

Mortgage rates slide as echoes of 2006 haunt the housing market (

Gold Prices (LBMA AM)

01 Nov: USD 1,223.25, GBP 950.47 & EUR 1,075.85 per ounce
31 Oct: USD 1,217.70, GBP 955.77 & EUR 1,074.25 per ounce
30 Oct: USD 1,220.00, GBP 956.36 & EUR 1,074.33 per ounce
29 Oct: USD 1,230.75, GBP 958.88 & EUR 1,078.38 per ounce
26 Oct: USD 1,236.05, GBP 964.98 & EUR 1,087.23 per ounce
25 Oct: USD 1,232.15, GBP 954.67 & EUR 1,079.36 per ounce

Silver Prices (LBMA)

01 Nov: USD 14.45, GBP 11.19 & EUR 12.68 per ounce
31 Oct: USD 14.34, GBP 11.23 & EUR 12.64 per ounce
30 Oct: USD 14.43, GBP 11.32 & EUR 12.71 per ounce
29 Oct: USD 14.65, GBP 11.42 & EUR 12.86 per ounce
26 Oct: USD 14.69, GBP 11.48 & EUR 12.94 per ounce
25 Oct: USD 14.74, GBP 11.43 & EUR 12.92 per ounce


| Digg This Article
 -- Published: Friday, 2 November 2018 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2019 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of 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 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


The views contained here may not represent the views of, Gold Seek LLC, its affiliates or advertisers., 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, Gold Seek LLC, is strictly prohibited. In no event shall, 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.