Gold and Silver Fall Sharply From 6 Year and 18 Month Highs After Massive Selling In The Futures Market

Gold and Silver Fall Sharply From 6 Year and 18 Month Highs After Massive Selling In The Futures Market

 

* Gold and silver fell sharply from six year highs and 18 months highs and fell 0.7% and 0.6% respectively

* Massive concentrated selling in the futures markets saw both precious metals fall very rapidly from $1,534/oz and $17.51/oz to as low as $1,487/oz and $16.71/oz

* Silver went above a 1 and half year high climbing over 2% to $17.51 per ounce, its highest since January 2018 prior to concentrated selling in the futures market

Silver in USD – 3 Days

 

* Despite silver’s recent gains, it remains 65% below its record nominal high near $50/oz

* Major stock markets globally fell for a third straight day today due to trade wars, Argentina and Hong Kong risks, prior to seeing a sharp rally after the open on Wall Street. 

* Fears about a deepening and global trade war, protests in Hong Kong and a crash in Argentina’s peso currency led to safe haven demand for bonds, gold and silver prior to the sharp selling on the COMEX
 

 



NEWS & COMMENTARY

Gold hits over six-year 'peak' at $1,532/oz on risk-off sentiment

Shares sold after Argentina crash, safe-havens shine

European shares drop on global worries; Italy, Spain underperform

Federal Spending Sets Record Through July; Treasury Runs $866,812,000,000 Deficit

Record American household debt, nearing $14 trillion, Bankruptcy filings rising

Yuan at right level, disorderly capital flows unlikely – China central bank official

China media says Hong Kong protesters are ‘asking for self-destruction’ as military assembles nearby

Gold Carefully Closed Back Below $1,500 Spot/Silver Below $17 Spot
 



 

Listen and Watch Jim Rogers Interview Here


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

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
01-Aug-19 1406.40 1406.80, 1161.12 1161.74 & 1273.35 1273.29
31-Jul-19 1430.55 1427.55, 1175.48 1167.45 & 1283.20 1281.37
30-Jul-19 1428.45 1425.90, 1173.47 1171.95 & 1281.75 1279.60



 

Click here to listen to the latest GoldCore Podcast


Receive our free Daily or Weekly Updates by signing up here and click here to subscribe to GoldCore’s You Tube Channel

 

 

 

 

This image has an empty alt attribute; its file name is Exclusive-Offer-Swiss-Flag-B-1024x576.jpg
Buy, Transfer & Store Gold and Silver in Zurich, Switzerland – Six Months Free Storage


Receive our free Daily or Weekly Updates by signing up here and click here to subscribe to GoldCore’s You Tube Channel



UK +44 (0)203 086 9200
IRL +353 (0)1 632  5010
US +1 (302)635 1160

www.GoldCore.com