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Gold and Silver Hold Firm as Stocks and Oil Lower in to US Holiday Weekend


 -- Published: Friday, 23 November 2018 | Print  | Disqus 

Key Gold and Precious Metals News, Commentary and Charts This Week

Gold and silver traded sideways this week as we saw stock markets take some heat and undo most of the recent recovery from the October sell off. Oil has sold off and is now at levels that we haven’t seen since 2017.

Credit: Weekly relative performance (Finviz.com)

While the US markets are quiet due to Thanksgiving all eyes are focused on Europe and the continuing debacle that is Brexit. With the expectation that a deal is going to be signed between the UK and the EU, this will mark the next step in the attempt for the UK to leave the world largest single market.

Following the signing of the agreement, Theresa May next has the mammoth task of trying to get the British Parliament to agree to the deal. As it is highly unlikely that the House of Commons will co-operate, what next for Brexit? GoldCore CEO Stephen Flood discusses Brexit and its potential effect on globalisation in this week’s video.

Given the continued uncertainty for the UK and the potential disastrous economic implications of the UK crashing out of the EU with no deal, cautious investors are starting to move their gold out of the UK. To facilitate this demand from clients, GoldCore has launched the first institutional-grade gold vault in Ireland. Irish, UK and international investors can for the first time store gold bullion bars and coins in professionally managed and secure, institutional grade vaults in Dublin.

This has been widely picked up in the media again this week with CNBC covering on Tuesday. You can check out the story here.

News and Commentary

Oil falls to lowest since late 2017 on emerging supply glut, OPEC expected to cut (Reuters.com)

Gold holds steady on Fed interest rate hike uncertainty (Reuters.com)

Gold edges up ahead of G20 meeting; set to post second weekly gain (CNBC.com)

German GDP data confirms contraction in 3Q (-0.2%) (MarketWatch.com)

Is Brexit a Massive Threat to Globalisation? (GoldCore.com)

The truth about a no-deal Brexit (Economist.com)

Did We Just Witness The Bottom in the Gold Market? (GoldSeek.com)

Crypto Losses Near $700 Billion in Worst Week Since Bubble Burst (Bloomberg.com)

Gold Prices (LBMA AM)

22 Nov: USD 1,228.25, GBP 950.42 & EUR 1,074.72 per ounce
21 Nov: USD 1,224.00, GBP 957.29 & EUR 1,075.04 per ounce
20 Nov: USD 1,223.10, GBP 951.45 & EUR 1,069.97 per ounce
19 Nov: USD 1,223.55, GBP 951.07 & EUR 1,070.97 per ounce
16 Nov: USD 1,215.80, GBP 948.93 & EUR 1,073.07 per ounce
15 Nov: USD 1,210.60, GBP 948.26 & EUR 1,072.71 per ounce

Silver Prices (LBMA)

22 Nov: USD 14.52, GBP 11.26 & EUR 12.72 per ounce
21 Nov: USD 14.42, GBP 11.26 & EUR 12.65 per ounce
20 Nov: USD 14.44, GBP 11.24 & EUR 12.63 per ounce
19 Nov: USD 14.36, GBP 11.21 & EUR 12.57 per ounce
16 Nov: USD 14.29, GBP 11.15 & EUR 12.61 per ounce
15 Nov: USD 14.13, GBP 11.02 & EUR 12.49 per ounce

https://news.goldcore.com/

 


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 -- Published: Friday, 23 November 2018 | E-Mail  | Print  | Source: GoldSeek.com

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