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 to Launch New Website

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA


GoldSeek Web

Gold Gains On “Political Turmoil and Increased Uncertainty” Regarding Brexit – GoldCore

 -- Published: Friday, 16 November 2018 | Print  | Disqus 

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

Gold and silver have eked out slight gains this week as stock markets came under pressure due to concerns about tech and oil sector valuations, Italian banks and political and financial turmoil due to Brexit.

Gold is 0.65% higher for the week in dollars and has seen greater gains in euro (+0.8%) and the pound (+2.17%). The latter has fallen due to political turmoil in the UK and Brexit concerns.

Weekly relative performance (

The pound tumbled after UK Brexit Secretary Dominic Raab resigned. He was the highest-profile of several departures yesterday.

Brexit backer Jacob Rees-Mogg and Prime Minster contender later joined calls for a vote of no confidence in PM Theresa May. The turmoil throws into doubt her ability to secure the UK Parliament’s support for her exit plan – and even to survive as leader.

Bookies have made the left wing Labour leader Jeremy Corbyn the favourite to take over from Mrs May – who they give 4/5 to be out before the end of 2018. This will further pressure the pound and should see gold reach new record highs in sterling terms in the months.

Stocks in the U.S., Europe and Asia are lower for the week with U.S. stocks being particularly weak. The S&P, DJIA and Nasdaq are down 2.1%, 3% and 2.8% respectively.

Oil prices have bounced a bit higher but have collapsed nearly 12% (WTI) so far in November which suggests there may be concerns about oil demand and economic growth in the coming months.

It was an important week for GoldCore as we 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, secure, institutional grade vaults in Dublin.

The announcement was widely picked up with Reuters, Irish Times, CNBC, Bloomberg (terminal) and others covering it and we covered it in our subsequently released Goldnomics video update.

Here is how Bloomberg covered the story:

GoldCore Offers Dublin Gold Storage as Brexit Concerns Mount

By Rupert Rowling (Bloomberg) —

Gold brokerage GoldCore has opened an institutional-grade vault near Dublin as clients are expected to move their holdings from London to other jurisdictions as Brexit concerns mount, it said in a statement.

  • Storage is managed in collaboration with Loomis International.
  • Since the vault’s soft launch on Oct. 15, ~30% of demand has come from GoldCore’s customers moving metal from London, CEO Stephen Flood said.
  • “We expect the amount of gold stored by our clients in Dublin to exceed that of London sometime in 2019, as U.K. and Irish clients seek to spread their holdings across jurisdictions,” Flood said.

o    Storage in Dublin has already surpassed Singapore and Hong Kong, and may usurp London as the No. 2 location, behind Zurich.

All in all another interesting week in the precious metal and wider markets as gold and silver slowly reassert themselves as hedging assets. They are protecting investors with exposure to stocks and indeed to currencies as was seen in gold’s gains in British pounds this week.

It represents an opportune time to rebalance portfolios and diversify out of overvalued assets and into undervalued safe haven gold.

From all the GoldCore team – have a great weekend!

Charts and Tables this Week

Gold in GBP – 24 Hours (GoldCore)

Source: Bloomberg

Gold to Silver Ratio via

DJIA and Oil – 1999 to Today (Source: Marketwatch)

Market Updates and Key News this Week

Pound Falls 2.5% Against Gold as UK Government in Turmoil Over Brexit

Investors Set To Store Gold In Dublin For First Time As Brexit Risks Grow

GoldCore Capitalising On Brexit With Dublin Gold Vault (Reuters)

Investors Start Buying Gold ETFs In October In Bullish Shift

Pound Falls Most Since 2017 as May’s Brexit Divorce Plan Rocked

Silver Cheapest To Gold In 25 Years – Watch China

American Elections Farce as Politicians Ignore the Looming $21.7 and 100 Trillion Debt Crisis

Today’s News and Commentary

PRECIOUS-Gold nears one-week high on Brexit deal logjam (

Gold prices edge higher amid Brexit turmoil (

Gold steady, in a range above $1210 (

Gold bugs might find hope in this chart (

Fed plans major review of how it pursues inflation, employment goals (

Italy gets support from Germany over budget spending plan (

Tudor Jones says we’re in a global debt bubble and headed for some ‘scary moments’ (

A disorderly Brexit will harm ‘unstable’ Italy, says former PM Letta (

Bank of England’s withholding Venezuela’s gold may signal shortage in London (

Italian Yields Spike After Salvini Advisor Warns Italy Will Exit Eurozone If League Wins Majority (

Mortgage Rates May Hit 6% Sooner – What Will that Do to Housing Bubble 2? (

Learn More and Watch Direct Access Gold Video Here

Gold Prices (LBMA AM)

15 Nov: USD 1,210.60, GBP 948.26 & EUR 1,072.71 per ounce
14 Nov: USD 1,201.45, GBP 927.04 & EUR 1,066.05 per ounce
13 Nov: USD 1,197.55, GBP 928.70 & EUR 1,066.18 per ounce
12 Nov: USD 1,207.05, GBP 940.05 & EUR 1,072.34 per ounce
09 Nov: USD 1,219.05, GBP 936.96 & EUR 1,075.81 per ounce
08 Nov: USD 1,223.45, GBP 932.02 & EUR 1,071.01 per ounce

Silver Prices (LBMA)

15 Nov: USD 14.13, GBP 11.02 & EUR 12.49 per ounce
14 Nov: USD 13.97, GBP 10.80 & EUR 12.39 per ounce
13 Nov: USD 14.02, GBP 10.85 & EUR 12.46 per ounce
12 Nov: USD 14.16, GBP 11.00 & EUR 12.57 per ounce
09 Nov: USD 14.34, GBP 11.01 & EUR 12.63 per ounce
08 Nov: USD 14.49, GBP 11.06 & EUR 12.70 per ounce


| Digg This Article
 -- Published: Friday, 16 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.