Gold Gains 1.7% and Silver Surges 4.9% After Weak U.S. Data Compounds Global Recession Fears

* Gold gained 1.7% and silver surged 4.9% yesterday after weak U.S. manufacturing data reinforced fears of a U.S. and global recession

* The escalation in the U.S.-China trade war and the political shambles in the UK and Brexit further bolstered gold bullion’s safe-haven appeal

* U.S. manufacturing activity contracted for the first time in 3 years in yet another indication that we are in a recession or soon to enter one

* Silver surged 4.9% to near a 3 year high, breaching the $19/oz level

Gold, silver surge after weak U.S. data compounds slowdown fears (Silver surges over 3%)

Gold rallies back to highest in over 6 years as ISM manufacturing marks lowest reading since 2016

Gold May Rise to $1,600, UBS WM’s Gordon Says (video) 

Wall Street bogged down by trade, growth concerns

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

03-Sep-19 1532.45 1537.85, 1278.06 1277.80 & 1400.35 1403.44
02-Sep-19 1523.35 1525.95, 1260.42 1265.01 & 1388.69 1391.51
30-Aug-19 1526.55 1528.40, 1253.14 1251.15 & 1382.75 1383.51
29-Aug-19 1536.65 1540.20, 1260.51 1262.96 & 1387.29 1392.03
28-Aug-19 1541.75 1537.15, 1263.31 1258.77 & 1389.89 1387.43
27-Aug-19 1531.85 1532.95, 1250.91 1247.51 & 1378.97 1380.88
26-Aug-19 UK Bank Holiday
23-Aug-19 1495.50 1503.80, 1224.37 1228.91 & 1351.48 1357.63