Gold Soars to $1440 In Overnight Asian Hours.
In this report, I cover the early market action from London on Tuesday, June 25th, 2019. I look briefly at the precious metals, the stock market, the dollar, the bond market and the price of oil.
With the big move, we have seen lately in the gold market I will look at the recent price action in gold and the fact that some of the big moves in the last week occurred during Asian trading hours. Today, for example, gold spiked from $1425 to $1440 prior to the markets opening in Europe and London.
Today I also look at what I think are the main drivers of the gold price and why I think silver is lagging behind gold for now.
My conclusion is that there are several factors like China, Central Banking Policy and the troubles impacting the corporate bond markets and fund managers like Woodford Investment Management and most recently the H2O fund that is owned by the French bank Natixis that could be driving the gold price.
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"Down the yellow brick road: China buying gold & dumping dollar assets as trade war with US escalates" : https://www.rt.com/business/462546-china-gold-trade-war/
"H2O dumps illiquid Windhorst-bonds as it battles crisis": https://www.ft.com/content/f5f9ff74-9647-11e9-8cfb-30c211dcd229
"Tale of 2 markets: riskiest bonds hit by trade worries": https://www.ft.com/content/0a8b7b5c-93c8-11e9-aea1-2b1d33ac3271
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Thanks for your analysis of of why gold has risen sharply over the last few days compared to silver - China and Russian central banks buying and dumping dollars etc.
Yes, it is somewhat reminiscent of 2007 with investments funds getting into trouble. I remember Northern Rock bank run and RBS massive rights issue etc. and being informed by the financial media that overall nothing was wrong.