G7, Trump Tweets and Uncertainty Underline Importance of Owning “Physical Gold In A Vault” – GoldCore on Bloomberg

Mark O’Byrne, executive director at Goldcore Ltd., discusses his outlook for gold as gold reached record highs in euros (see chart) amid global uncertainty. He speaks on “Bloomberg Markets: European Open.” (Source:Bloomberg)

– Given the serious developments at the G7, Trump’s tweet regarding Fed Chairman Powell being akin to an enemy and the escalating trade wars, “gold should be 1% or 2% higher today”

– “Profit taking may be seen in the short term” as gold is up over 8% in August and 18% year to date”

– Gold “is a barometer of risk” and “the more uncertain the world, the more demand comes into the gold market and the more gold likes it”

– “Gold is not particularly volatile and while volatility has increased somewhat, gold is a hedge, it reduces volatility and enhances returns in portfolios”

– If you are overweight stocks and bonds right now, it might be a time to reduce allocations to the risk assets and get an allocation to gold

– “Own actual physical gold coins and bars in a vault”; “ETFs are not the safest way in the world to invest in gold due to the counter party risk”

News and Commentary

Euro Gold Price Reaches All Time Record Highs – live chart

India gold futures jump to record, silver at three-year high

Trump tweets: ‘Who is our bigger enemy,’ Fed Chairman Powell or Chinese President Xi?

Gold at over 6-yr ‘peak’ as trade war escalation sparks safe-haven rush

Trump Says China Called, Wants to Restart Trade Talks

China ForeignMin: Not aware of US-China weekend phone calls

Shares skid as trade war deepens, fuels bond rush

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

23-Aug-19 1495.50 1503.80, 1224.37 1228.91 & 1351.48 1357.63
22-Aug-19 1498.70 1502.05, 1234.63 1225.97 & 1351.98 1354.10
21-Aug-19 1499.65 1503.25, 1235.41 1238.53 & 1351.48 1354.43
20-Aug-19 1502.65 1504.55, 1242.69 1239.60 & 1356.44 1357.86
19-Aug-19 1499.35 1496.60, 1236.66 1235.29 & 1350.76 1348.89
16-Aug-19 1509.05 1515.25, 1242.55 1246.14 & 1361.46 1367.82
15-Aug-19 1517.65 1515.65, 1254.49 1250.26 & 1361.48 1363.78
14-Aug-19 1500.35 1513.25, 1241.69 1253.73 & 1341.61 1356.17
13-Aug-19 1527.20 1498.40, 1265.90 1240.38 & 1363.48 1338.67
12-Aug-19 1501.95 1504.70, 1244.82 1243.63 & 1343.64 1341.74
09-Aug-19 1503.50 1497.70, 1242.19 1240.99 & 1342.02 1338.05
08-Aug-19 1497.40 1495.75, 1230.26 1234.14 & 1335.08 1335.70
07-Aug-19 1487.65 1506.05, 1225.82 1239.33 & 1330.11 1341.44
06-Aug-19 1461.85 1465.25, 1199.59 1201.21 & 1304.85 1311.11
05-Aug-19 1457.45 1465.25, 1199.92 1203.85 & 1307.92 1310.23
02-Aug-19 1436.05 1441.75, 1184.17 1187.28 & 1294.02 1298.44

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