The full note to his readers can be read here
Today’s Gold Prices: USD 1,153.50, EUR 1,005.93 and GBP 734.40 per ounce.
Friday’s Gold Prices: USD 1,149.35, EUR 1,021.33 and GBP 732.75 per ounce.
Gold in USD - 1 Week
On Friday, gold rose as high as $1161.67 in New York and ended with a gain of 0.64%. Silver slipped to as low as $15.14 and ended with a loss of 1.29%.
Gold was 4% higher for the week and made strong gains in all major currencies. Silver was also higher, but by just 0.41% for the week.
Gold stayed close to its highest level in almost seven weeks today as worries over a slowing Chinese economy pushed investors away from risky assets such as equities and into safe haven assets.
Gold stands tall as China fears fuel safe-haven draw – Reuters
Gold Holds Weekly Gain as Global Equity Selloff Increases Demand – Bloomberg
Gold Bulls in Goa Happy to Quit This Year for Promising 2016 – Bloomberg
Kazakhstan, Malaysia Boost Gold Reserves; Colombia Cuts Holdings – Bloomberg
Stocks post worst week of 2015 – Investors move to gold – The Irish Times
“Gold and silver will be your only lifeboats” warns Jim Sinclair – Jim Sinclair’s MineSet
Death of buy-to-let: landlords wake up to Osborne’s 150pc tax – The Telegraph
Can Kickers United –Why It’s Getting Downright Hazardous Out There – David Stockman’s Contra Corner
The Fed Is Looking at a Very Different Dollar Than Wall Street – Bloomberg
Is Gold a Safe Haven? – FXStreet