Gold Marginally Higher; China Buys 100 Tons of Gold For Its Reserves In 2019

◆ Gold eked out small gains of 0.4% to $1,512/oz after falling nearly 1% last week; Improved risk appetite are capping gains for now

◆ Gold may go lower in the short term and support is at $1,500 and $1,450 per ounce but strong global safe haven demand from investors, family offices and central banks including China and Russia (see News below) should lead to further gains

◆ China has raised it gold holdings for ninth straight month, with the PBOC buying another 5.9 tons in August and adding nearly 100 tons of gold to its reserves since it resumed declaring purchases in December

◆ Russia’s massive gold stash is now worth more than $100 billion and the value of Russia’s gold reserves climbed 42% in the past year

Gold inches higher, but improved risk appetite caps gains

Gold Investments Hit Record High As Family Offices Seek Safe Haven

China Has Added Nearly 100 Tons of Gold to Its Reserves

China will not tolerate attempts to separate Hong Kong from China

UK’s Royal Mint plans first stock exchange product with gold ETF

‘Gold is the way to go’ as interest rates fall, says Mark Mobius

Gold At $10,000 Isn’t Crazy – Frank Holmes

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

06-Sep-19 1504.95 1523.70, 1223.52 1237.09 & 1363.94 1378.49
05-Sep-19 1542.60 1529.10, 1257.06 1238.72 & 1397.44 1380.78
04-Sep-19 1538.80 1546.10, 1265.05 1269.97 & 1397.69 1403.86
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