Best of the Week
Most Popular
1. Dollargeddon - Gold Price to Soar Above $6,000 - P_Radomski_CFA
2.Is Gold Price On Verge Of A Bottom, See For Yourself - Chris_Vermeulen
3.Dow Stock Market Trend Forecast 2018 - Nadeem_Walayat
4.Gold Price to Plunge Below $1000 - Key Factors for Gold & Silver Investors - P_Radomski_CFA
5.Why The Uranium Price Must Go Up - Richard_Mills
6.Dow Stock Market Trend Forecast 2018 - Video - Nadeem_Walayat
7.Jim Rogers on Gold, Silver, Bitcoin and Blockchain’s “Spectacular Future” - GoldCore
8.More Signs That the Stock Market Will Rally Until 2019 - Troy_Bombardia
9.It's Time for A New Economic Strategy in Turkey - Steve_H_Hanke
10.Fiat Currency Inflation, And Collapse Insurance - Raymond_Matison
Last 7 days
Gold Exodus to Reverse - 22nd Sep 18
Bitcoin Trader SCAM WARNING - Peter Jones, Dragons Den Fake Facebook Ads - 22nd Sep 18
China Is Building the World’s Largest Innovation Economy - 21st Sep 18
How Can New Companies Succeed in the Overcrowded Online Gambling Market? - 21st Sep 18
Golden Sunsets in the Land of U.S. Dollar Hegemony - 20th Sep 18
5 Things to Keep in Mind When Buying a Luxury Car in Dubai - 20th Sep 18
Gold Price Seasonal Trend Analysis - Video - 20th Sep 18
The Stealth Reason Why the Stock Market Keeps On Rising - 20th Sep 18
Sheffield School Applications Crisis Eased by New Secondary Schools Places - 20th Sep 18
Precious Metals Sector: It’s 2013 All Over Again - 19th Sep 18
US Dollar Head & Shoulders Triggered. What's Next? - 19th Sep 18
Prepare for the Stock Market’s Volatility to Increase - 19th Sep 18
The Beginning of the End of the Dollar - 19th Sep 18
Land Rover Discovery Sport 'Approved Used' Bad Paint Job - Inchcape Chester - 19th Sep 18
Are Technology and FANG Stocks Bottoming? - 18th Sep 18
Predictive Trading Model Suggests Falling Stock Prices During US Elections - 18th Sep 18
Lehman Brothers Financial Collapse - Ten Years Later - 18th Sep 18
Financial Crisis Markets Reality Check Now in Progress - 18th Sep 18
Gold’s Ultimate Confirmation - 18th Sep 18
Omanization: a 20-year Process to Fight Volatile Oil Prices  - 18th Sep 18
Sheffield Best Secondary Schools Rankings and Trend Trajectory for Applications 2018 - 18th Sep 18
Gold / US Dollar Inverse Correlation - 17th Sep 18
The Apple Story - Trump Tariffs Penalize US Multinationals - 17th Sep 18
Wall Street Created Financial Crash Catastrophe Ten Years Later - 17th Sep 18
Trade Wars Are Going To Crash This Stock Market - 17th Sep 18
Why Is Apple Giving This Tiny Stock A $900 Million Opportunity? - 17th Sep 18
Financial Markets Macro/Micro View: Waves and Cycles - 17th Sep 18
Stock Market Bulls Prevail – for Now! - 17th Sep 18
GBPUSD Set to Explode Higher - 17th Sep 18
The China Threat - Global Crisis Hot Spots & Pressure Points - 17th Sep 18 - Jim_Willie_CB
Silver's Relationship with Gold Reaching Historical Extremes - 16th Sep 18
Emerging Markets to Follow and Those to Avoid - 16th Sep 18
Investing - Look at the Facts to Find the Truth - 16th Sep 18
Gold Stocks Forced Capitulation - 15th Sep 18
Hindenburg Omen & Consumer Confidence: More Signs of Stock Market Trouble in 2019 - 15th Sep 18
Trading The Global Future - Bad Consequences - 15th Sep 18
Central Banks Have Gone Rogue, Putting Us All at Risk - 15th Sep 18
Gold Price Seasonal Trend Analysis - 14th Sep 18
Growing Number of Small Businesses Opening – and Closing – In the UK - 14th Sep 18
Gold Price Trend Analysis - Video - 14th Sep 18
Esports Is Exploding—Here’s 3 Best Stocks to Profit From - 13th Sep 18
The Four Steel Men Behind Trump’s Trade War - 13th Sep 18
How Trump Tariffs Could Double America’s Trade Losses - 13th Sep 18
Next Financial Crisis Is Already Here! John Lewis 99% Profits CRASH - Retail Sector Collapse - 13th Sep 18
Trading Cryptocurrencies: To Win, You Must Know Where You're Wrong - 13th Sep 18
Gold, Silver, and USD Index - Three Important “Nothings” - 13th Sep 18
Precious Metals Sector On a Long-term SELL Signal - 13th Sep 18
Does Gambling Regulation Work - A Case Study - 13th Sep 18
The Ritual Burial of the US Constitution - 12th Sep 18
Stock Market Final Probe Higher ... Then the PANIC! - 12th Sep 18
Gold Nuggets And Silver Bullets - 12th Sep 18
Bitcoin Trading - SEC Strikes Again - 12th Sep 18

Market Oracle FREE Newsletter

Trading Any Market

Gold Prices See Seventh Day Of Gains After Terrorist Attack In London

Commodities / Gold and Silver 2017 Mar 23, 2017 - 01:12 PM GMT

By: GoldCore

Commodities

– Gold prices higher seven days in row – best gains since Brexit
– Gold spikes to three week high after terrorist attack in London
– Global stocks fell yesterday after attack in London 
– Stocks resilient today and start day flat


– Gold rallies 4.1% in recent days as stock prices falter
– Sterling fell yesterday but flat today
– Risk of terrorist ‘spectacular’ shows importance of gold
– Trump faces big test today and failure may impact stocks
– Silver rose 0.3% yesterday and is another 0.5% higher today to $17.69 per ounce

– Uncertainty to provide support for gold and should test resistance at $1,250 per ounce and above that at $1,300 per ounce

Gold prices reached a 3-week high yesterday after the terrorist attack in London pushed gold to $1,251.30 per ounce – the highest it’s been since February 28.

Gold prices have risen over 4% in the last seven days as global equities slumped and risk aversion returned to markets. Gold has consolidated on the gains of the last seven sessions today and prices are marginally higher just above $1,250 per ounce.

London’s worst attack in more than a decade left five people dead, including the assailant and the police officer he stabbed, and at least 40 injured.

The history of these attacks, including those in France, Germany and Belgium last year as well those in Madrid and London more than 10 years ago, show there was little impact on economic confidence or financial markets. However, these attacks, despite being tragic were relatively small in scale and not of the magnitude of the September 11 attacks in New York.

The concern is that with economies fragile and markets looking very over valued, a spate of new terror attacks or indeed what is termed a terrorist “spectacular” akin to ‘911’ or simulated attacks across the western world as warned of by Isis recruits, could be damaging.

Markets are now also getting jittery about President Trump’s  ability to push through policies that may benefit the U.S. economy. This is  creating doubts on the so-called reflation trade that has seen stocks become “irrationally exuberant” in recent weeks.

Today’s focus is on whether Trump can gather enough support in a vote today to pass a bill to roll back Obamacare. It is the first major test of his legislative ability and whether he can keep his promises made to his supporters and the electorate.

Failure to eliminate the healthcare plan would suggest that Trump’s efforts to cut taxes and boost infrastructure will also be impeded. This could see stocks in the U.S. come under pressure and lead to renewed safe haven demand for gold.

Heightened political uncertainty in the U.S., the UK and indeed the EU will support gold and should lead to it testing resistance at the $1,250 to $1,260 per ounce level and above that resistance at $1,300 per ounce.

Silver rose 0.3 percent to $17.54 yesterday and is another 0.4% higher today to $17.69 per ounce.

Platinum and palladium also made gains and were up 0.5 percent at $962.55 per ounce and 0.3 percent to $788.85 respectively. Both have eked out further gains today with platinum at $968 and palladium rising 1.2% to $801 per ounce.

Gold Prices (LBMA AM)

23 Mar: USD 1,247.90, GBP 997.95 & EUR 1,157.93 per ounce
22 Mar: USD 1,246.10, GBP 999.50 & EUR 1,154.76 per ounce
21 Mar: USD 1,232.05, GBP 989.21 & EUR 1,141.37 per ounce
20 Mar: USD 1,233.00, GBP 993.92 & EUR 1,146.57 per ounce
17 Mar: USD 1,228.75, GBP 991.85 & EUR 1,140.53 per ounce
16 Mar: USD 1,225.60, GBP 998.74 & EUR 1,143.24 per ounce
15 Mar: USD 1,202.25, GBP 986.69 & EUR 1,132.04 per ounce

Silver Prices (LBMA)

23 Mar: USD 17.55, GBP 14.04 & EUR 16.27 per ounce
22 Mar: USD 17.58, GBP 14.12 & EUR 16.30 per ounce
21 Mar: USD 17.31, GBP 13.88 & EUR 16.01 per ounce
20 Mar: USD 17.23, GBP 13.92 & EUR 16.03 per ounce
17 Mar: USD 17.40, GBP 14.08 & EUR 16.21 per ounce
16 Mar: USD 17.46, GBP 14.21 & EUR 16.28 per ounce
15 Mar: USD 16.91, GBP 13.87 & EUR 15.92 per ounce

Mark O'Byrne

Executive Director

This update can be found on the GoldCore blog here.

IRL
63
FITZWILLIAM SQUARE
DUBLIN 2

E info@goldcore.com

UK
NO. 1 CORNHILL
LONDON 2
EC3V 3ND

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

W http://www.goldcore.com/uk/

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 63 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'

GoldCore Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules