Gold is currently up over 15% for the year, silver by nearly 12%. Both offer financial safe havens during times of war. All parties involved in the current geopolitical fracas are big holders of gold. Two of them, Russia and China are enabling the trade of the precious metal for key commodities.
Not only was Equifax slow to deal with the issue but three senior executives sold almost $2MM worth of stock prior to alerting customers to the security breach.
September is traditionally a good month for gold, as we head into the Indian wedding season. “It’s just a matter of time before gold comes good again…”
Gold rises to one year high at $1,356/oz, dollar at 32 month low - Silver and platinum 2.3% and 1.2% higher in week; palladium 3% lower - Euro Stoxx flat for week - S&P 500, Nikkei down 0.65% and 2.2% - Goldman, BoAML and Deutsche Bank all warn re markets this week
Goldman CEO Lloyd Blankfein said he is "unnerved by the market" while the Deutsche CEO said he is "seeing signs of bubbles in more and more parts of the capital market."
Do not buy gold futures or ETFs rather buy physical gold advise Goldman. Trump and Washington risk bigger driver of gold than risks such as North Korea. "Gold is a good hedge against geopolitical risks when the event leads to a debasement of the dollar ..."
Gold reaches highest price since US election, climbs due to uncertainty and safe haven demand. S&P 500 marginally higher; Euro Stoxx, Nikkei lower for month (see performance table). Never been a better time to diversify and rebalance portfolios with stocks and bonds near record highs and looking vulnerable
South Korea’s air force dropped eight MK 84 bombs near Seoul; simulating the destruction of North Korea’s leadership. $20 trillion U.S. debt ceiling storm looms
Gold set to shine as Washington stumbles. U.S. debt ceiling issue to be fractious as bankrupt U.S. approaches $20 trillion debt. Investors will again turn to gold in coming political strife...
