Fed’s Powell explains why a return to the gold standard would be so damaging to the economy

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Published : July 11th, 2019
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Category : Market Analysis
  • “If you assigned us [to] stabilize the dollar price of gold, monetary policy could do that, but the other things would fluctuate, and we wouldn’t care,” Powell says.
  • Though Powell distanced himself from the Fed nomination process, his comments put him at odds with the writings of Judy Shelton, a current nominee to the central bank.
  • Federal Reserve Chairman Jerome Powell told Congress on Wednesday that he doesn’t think a return to the gold standard in the U.S. would be a good idea.

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LBMA Gold Prices (AM/ PM Fix – USD, GBP & EUR)

10-Jul-19 1395.45 1408.30, 1117.34 1126.78 & 1243.35 1252.68
09-Jul-19 1387.90 1391.55, 1113.51 1115.61 & 1239.39 1241.54
08-Jul-19 1404.90 1400.10, 1121.11 1119.38 & 1251.20 1248.19
05-Jul-19 1414.40 1388.65, 1126.43 1110.92 & 1255.99 1237.70
04-Jul-19 1415.25 1414.90, 1125.41 1125.55 & 1254.19 1254.59
03-Jul-19 1425.10 1413.50, 1133.52 1123.31 & 1262.78 1251.65
02-Jul-19 1393.10 1391.05, 1105.01 1101.02 & 1233.59 1231.77
01-Jul-19 1390.05 1390.10, 1099.81 1099.99 & 1227.41 1227.74





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Mark O'Byrne is executive and research director of www.GoldCore.com which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth.
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