Morning Report: 07.00 London This morning, the British pound is continuing to out-perform, with the EUR/GBP dropping for the fourth day in a row. The GBP/JPY has rocketed over the last three days and the GBP/USD has hit its highest levels since October. The dollar pairs generally have had a positive start to the day, […]
GOLD PRICES dropped on Wednesday as new data said the US economy expanded 3.3% per year between July and September, its fastest pace since 2014. Falling from its 6th attempt above $1296 so far this week, the gold price lost $10 per ounce against a rising US Dollar while silver and platinum fell sharper […]
Morning Report: 07.00 London This morning, the pound remains strong after reports emerge of Brexit deal upwards of 50 million euros. The pound rallied yesterday against the euro, forcing the EUR/GBP lower yesterday and this morning. The pound is now at his highest level since the start of October. The euro fell yesterday by contrast, […]
GOLD PRICES held in a tight $5 per ounce range on Tuesday morning in London as major government bond prices rose, nudging interest rates lower, ahead of key US data and central-bank testimony. Holding within 0.4% of what would be a 6-week high at $1300 per ounce, Dollar gold prices extended their longest run […]
Morning Report: 07.00 London This morning, the Kiwi is out performing, with the NZD/USD one of the top performers this morning despite the dollar index making gains. The Aussie dollar has continued to falter though. The AUD/USD is unchanged while the AUD/JPY makes small gains. The dollar index is slightly higher, but the dollar pairs […]
GOLD BUYING grew on Monday morning as Asian stocks resumed their decline and the US Dollar dropped to a 2-month low ahead of tomorrow’s key US Congressional hearing on Donald Trump’s choice of Jerome Powell to replace Janet Yellen as head of the Federal Reserve, writes Steffen Grosshauser at BullionVault. With US consumers expected […]
Morning Report: 07.00 London The euro hit a two month high Friday and is nudging back slightly this morning. This comes amid confidence that Angela Merkel will rescue a coalition deal that will ensure her continuation in power. The EUR/JPY has sipped back though as the yen generally gains traction. The yen pairs are on […]
Well, everything except precious metals… IN A WORLD awash with money, what price the last Leonardo da Vinci in private hands? asks Adrian Ash at BullionVault. Am I bid half-a-billion dollars? Going once, twice…sold! Last week saw Christie’s in New York sell a painting known as Salvator Mundi for over $450 million […]
GOLD BULLION slipped against a falling US Dollar on Friday, heading for a 0.3% weekly drop as the US Thanksgiving holidays left world stockmarkets to edge higher and diplomatic tensions worsened further between Turkey and Washington. With the Dollar dropping again on the FX market, gold trading in London – center of the global […]
Morning Report: 07.00 London This morning, the US dollar is making a tentative rally in thin post-Thanksgiving trading. Despite this, the Greenback is still set for losses on the week. These losses have been fuelled by FOMC caution and concerns over the impact of Trump’s tax reforms. The dollar pairs are on the back foot, […]
GOLD BULLION regained the last of this week’s prior 1.3% loss against a weakening US Dollar in London trade Thursday, as other markets whipped amid uncertainty on the path of US interest rates following yesterday’s release of notes from the Federal Reserve’s latest policy meeting. Holding rates unchanged on 1 November, but signalling a […]
Morning Report: 07.00 London This morning, the US dollar index remains on the back foot after heavy selling yesterday. This comes after the Fed warned of how a sharp reversal in financial markets could have damaging effects on the economy. The dollar pairs have positive bias today, with the EUR/USD posting the biggest gains yesterday. […]
GOLD PRICES recovered two-thirds of this week’s earlier 1.3% drop against the Dollar on Wednesday, trading up to $1286 per ounce as Asian demand edged premiums in China and India higher, and world stock markets rose yet again. Government bond prices sat tight, keeping 10-year US Treasury yields unchanged at 2.36%, in the middle […]
Morning Report: 07.00 London This morning, the pound is steady ahead of the UK budget, with the GBP/USD managing to rise for the seventh straight day. The pound is falling slightly behind the euro though, with the EUR/GBP rising. The EUR/USD is also making gains at the US dollar index weakens, despite ongoing uncertainty surrounding […]
GOLD BULLION held onto yesterday’s 1.1% plunge in Asian and London trade Tuesday, moving sideways as world stock markets rose with government bond prices despite the threat of fresh elections in Germany and the rapid escalation of political tensions between Nato military alliance members Turkey and the United States. With commodities holding firm overall, […]
Morning Report: 07.00 London The Australian dollar is weaker again this morning after the RBA sounded a note of caution in the release of its latest minutes. The AUD/USD is trickling lower as the AUD/JPY undoes some of yesterday’s losses. Elsewhere, the euro remains weak after under-performing the pound yesterday. The single currency is under […]
GOLD BULLION slipped together with silver and platinum ahead of the US open on Monday, down 0.5% from last week’s 1-month high just below $1300 per ounce as world stock markets fell following the weekend’s collapse of coalition government talks in Germany. With pundits calling it Germany’s “worst political crisis in decades”, current Chancellor […]
Morning Report: 07.00 London This morning, the euro has been hit hard by the breakdown of talks to form a ruling German coalition, triggering fresh elections. The EUR/USD and EUR/GBP have gapped lower, with the former down 0.43%. Meanwhile, the EUR/JPY is at its lowest levels since September. By contrast, the GBP/USD is performing well, […]
How the 1967 devaluation of Sterling killed the Gold Standard… THIS WEEKEND will mark 50 years since Harold Wilson’s infamous devaluation of Sterling, writes Adrian Ash at BullionVault. Hoping to cut the trade deficit by making imports dearer and exports cheaper, the Labour prime minister claimed that the “Pound in your pocket” hadn’t […]
GOLD PRICE gains of 0.5% from last Friday’s finish held firm in London trade today as world stock markets recovered more of this week’s drop and commodities also rallied after falling from their recent multi-year highs. Gold held at $1282, some $5 per ounce below Wednesday’s attempt at 4-week highs versus the US Dollar. […]
Morning Report: 07.00 London The dollar index is on the back foot this morning on talk of Trump team members being under subpoena as part of the investigation into Russian interference. Yesterday’s poor jobless claims data has not helped. The weak euro has helped some dollar pairs, notably the GBP/USD and EUR/USD which are climbing […]
GOLD PRICES edged back up to $1280 per ounce on Thursday in London as world stock markets rose for the first session in six. With gold prices trading just $10 per ounce above the 13-week closing low of week-ending Friday 3 November, so-called “junk bond” prices also rallied with equities. US corporate bonds […]
Morning Report: 07.00 London This morning, the British pound is slipping back after impressing yesterday with better than expected average earnings and claimant count change. The EUR/GBP is nudging higher again, with the GBP/USD dropping while the EUR/USD rallies. The euro is outperforming, with the EUR/JPY rallying with intent. The yen pairs are on the […]
Not stocks, bonds, seashells or Yap stones either… ONE KEY requirement of money, writes Adrian Ash at BullionVault, is that it doesn’t drop 27% of its purchasing power inside 4 days… …only to regain all that drop again in the following 72 hours. This kind of hyper-volatility signalled the death of the […]
GOLD PRICES jumped to 4-week highs against a weakening US Dollar in London trade Wednesday lunchtime, reaching $1288 per ounce as world stock markets followed Wall Street lower for the 5th session running. New data today showed US inflation holding at the Federal Reserve’s 2.0% annual target in October, while retail sales rose 4.6% […]
Morning Report: 07.00 London This morning, the Japanese yen is in demand, pushing the yen pairs lower. Japanese GDP came in slightly below estimates last night, but it still marked the longest run of unbroken expansion since 2001. The AUD/JPY is the biggest mover, down 0.89%, with other yen pairs in the red. The Australian […]
COMEX GOLD contracts recovered a $5 drop against a weakening US Dollar in London lunchtime trade Tuesday, rising back to last week’s finish at $1275 after what analysts called another “large sell” order on the futures market. Commodities retreated and bond prices edged higher as world stock markets fell again. Germany’s Dax dropped […]
Morning Report: 07.00 London This morning, the NZD/USD is experiencing heavy selling despite inline Chinese economic data. The NZD/USD is down 0.61%. By contrast, the Australian dollar is performing well, with the AUD/USD rising against yesterday’s losses. The AUD/JPY is following tack. The pound continues to underperform ahead of today’s headline inflation figures where CPI […]
GOLD PRICES traded in a narrow $5 range above last week’s close on Monday morning in London as expectations held firm for a US Fed rate hike next month and the British Pound dropped amid fresh doubts over Prime Minister Theresa May’s leadership, writes Steffen Grosshauser at BullionVault. Gold prices climbed to $1279 per […]
Morning Report: 07.00 London This morning, the British pound is on the back foot after a weekend of hard Brexit talk and rumours of a vote of no confidence in Theresa May. The GBP/JPY is off by 0.59%, with the GBP/USD down by 0.55%. Meanwhile the EUR/GBP rises by 0.44% as the pound weakens against […]
