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Coins & bullion since 1973


Daily Gold Market Report
gold prices

Live London Gold News Wire
NEW in the last 5 minutes
www.usagold.com --LIVE NEWS--
Lundin Gold’s Fruta del Norte mine on track to produce first gold in Q4 201903:58
5 to 10 minutes old
www.usagold.com --LIVE NEWS--
Gold rises for 3rd day, surges to Rs 33,190 per 10 gm03:53
The Asian Age - Business
Chaarat Gold Hlgs Ld : Kapan Acquisition - update on transaction status03:53
InvestEgate (Company Announcements) - Trade
15 to 30 minutes old
www.usagold.com --LIVE NEWS--
Gold surges Rs 65 to Rs 33,190 per 10g03:41
The Hindu Business Line - Markets
30 minutes to 1 hour old
www.usagold.com --LIVE NEWS--
Gold Drops While Brexit Vote Plays Out As Expected03:24
Investing.com - Commodities
1 to 2 hours old
www.usagold.com --LIVE NEWS--
Internet Gold fails to get binding offers for BCom stake02:29
Reuters.co.uk - Mergers & Acquisitions - Asia
Internet Gold fails to get binding offers for BCom stake02:17
Reuters - Regulatory News
Political Uncertainty Pushes Online Gold Bullion Trading Up02:07
Forbes - Innovation
2 to 4 hours old
www.usagold.com --LIVE NEWS--
Gold holds steady above $1290 level, well within 1-week old trading range01:59
How Kenyan firm has turned traffic chaos into gold01:40
The Standard - Business
Internet Gold says didn't get binding offers to buy Bcom stake01:18
Reuters.co.uk - Mergers & Acquisitions - Asia
Internet Gold says didn't get binding offers to buy Bcom stake01:17
Reuters - Regulatory News
Pimco favours 'unloved' platinum that's looking cheap to gold01:15
Mining Weekly - Gold
Gold up by Rs 87 in futures trade01:10
The Hindu Business Line - Markets
Gold basks in the glow of Theresa May’s humiliating defeat00:49
Financial Mail - Markets
15th January, 2019: Scrap Gold, Silver and Platinum Prices Unmoved on Index00:25
Scrap Monster
Databank denies dealing in gold collectibles00:08
Pulse Ghana - Business
Spectrum onto multiple gold targets in WA00:06
The West Australian - Public Companies
4 to 6 hours old
www.usagold.com --LIVE NEWS--
More gold, fewer silver ounces for Hecla23:59
Gold will shine in 2019: David Morgan23:47
Scrap Register - Metal News
Gold Rate Today: Gold, silver lacklustre on soft demand23:31
The Economic Times - Commodities
Commodities including Gold likely to move higher later in 201923:17
Scrap Register - Metal News
Gold Prices Might Make Good on Signs of Topping on Fed Beige Book23:07
Daily FX
Gold Prices Edge Up Amid Brexit Uncertainty22:56
Investing.com - Commodities
Gold: Institutional Stampede Into Miners Ahead?22:33
Investing.com - Commodities
Detour reports record gold production22:29
Invest in gold or platinum? Here’s Pimco’s choice22:19
Livemint.com - Money
Barrick Gold: It's Time To Reload22:17
Seeking Alpha - Investment Ideas
Is Now The Right Time To Buy SPDR Gold Trust ETF?22:13
Seeking Alpha - ETFs & Portfolio Strategy
PRECIOUS-Gold holds firm on failed Brexit vote, Fed rate hike pause hopes22:11
Reuters.co.uk - Regulatory News
Gold futures untraded at mid-day22:08
Bernama - Malaysian National News Agency - Markets
6 to 8 hours old
www.usagold.com --LIVE NEWS--
Gold melts on the JSE with no respite in sight21:41
IOL - Markets - South Africa
Gold holds firm on failed Brexit vote, Fed rate hike pause hopes21:37
BSE gets Sebi nod to launch Gold Mini, Guarseed and Guargum contracts21:06
Gold may be about to embark on new extended rally20:45
The National - Business
Should you invest in new gold bond series?20:18
Livemint.com - Money
Gold holds firm on failed Brexit vote20:18
The Hindu Business Line - Markets
Gold veteran says bigger may not be better as M&A blitz hits20:13
Mining Weekly
"Measured in 72 currencies, gold is at ... an all-time high"20:07
'Gold'en crossover confirmed, China stimulus plans and Brexit uncertainty could limit downside20:06
www.usagold.com --LIVE NEWS--
Cardinal Resources aims for completed gold project DFS by September quarter19:32
Proactive Investors (Hong Kong)
Gold prices rise as failed Brexit vote drags on dollar19:27
The Economic Times - Market
Gold futures untrade at opening19:26
Bernama - Malaysian National News Agency - Markets
Bulls, Bears & Brokers: Barry Dawes shares holistic analysis on gold19:26
Proactive Investors (Australia)
Trade deficit narrows to $13.08 bn in December, lowest in 10 months on fall in gold imports; flat exports a concern19:18
Firstpost - Business
If Gold Tops $1,350, Wells Fargo To Turn Negative On The Metal18:56
Kitco - News Bites
Gold prices rise as failed Brexit vote drags on dollar18:36
Reuters - Business
PRECIOUS-Gold prices rise as failed Brexit vote drags on dollar18:31
Reuters.co.uk - Regulatory News
Cardinal Resources aims for completed gold project DFS by September quarter18:25
Proactive Investors (Australia)
IAMGOLD announces $170m gold prepay arrangement17:34
Mining.com - Gold

Gold inches higher ahead of vote on Brexit plan

(USAGOLD – Tuesday, January 15, 2019) – Gold inched higher in early U.S. trading after a relatively quiet night overseas – up $1.50 at $1293 –  as the world's attention shifted to the United Kingdom and today's vote on Brexit. Silver is down 1¢ at $15.67.  A House of Commons' vote is scheduled for later this afternoon.  A firmer U.S. dollar is helping to keep gold constrained this morning.

The major news services are predicting a defeat for the current plan for Britain's departure from the European Union leaving it a guessing game as to what might happen next in the world's fifth largest economy.  We have seen estimates of up to $1 trillion in capital flight from Britain as a result of that departure.  Safe haven demand for gold on both sides of the English Channel has been one of the hallmarks of the departure wrangling.

U.S. Global Investors' Frank Holmes offers the following summation of the current gold market: "Gold, meanwhile, is set for its fourth weekly gain, marking its longest rally since October. Traders surveyed by Bloomberg are bullish on the yellow metal for a ninth straight week. . .ETFs backed by gold saw 10 straight days of inflows, adding 37,174 troy ounces on Thursday alone. This year’s net purchases so far are 762,975 troy ounces, according to data compiled by Bloomberg."

Quote of the Day
"But the same analysis applies to debased or light-weight coins driving out full-bodied coins. Examples abound in the ancient literature of the consequences of coinage debasement. From the very beginning of coinage, generally assumed, on the authority of Herodotus, to originate with 7th century Lydia, coinage was overvalued. The earliest coins were made of electrum, a natural alloy of about 70 percent gold and 30 percent silver. But hoards of the earliest coins found in the Temple of Artemis at Ephesus in 1904 contained ;artificial' electrum coins with much lower gold contents. The weights of the stater coins (or its fractions) were uniform but the gold contents were as low as 30 percent. The Lydians and Greeks had not only learned how to use ancient Egyptian techniques of metallurgy, but also how to overvalue coins by using less of the more expensive metal and exploit the monetary prerogative as a fiscal device." – Robert Mundell, Uses and Abuses of Gresham's Law in the History of Money

Chart of the Day

Chart and note courtesy of the World Gold Council/GoldHub

Chart note:  "Large net short positions," says the World Gold Council, "are often prone to covering, creating buying opportunities for investors.  In addition, gold speculative positioning in futures markets remains low by historical standards after hitting record lows in the final months of 2018. CME managed money net long positions stand near record low since 2006 – when data was first broken down by investor type. Furthermore, net combined speculative positions, which go back further, are negative for the first time since December 2001. And large net short positions have historically created buying opportunities for strategic investors, as such positions are prone to short-covering adding momentum to rallies in the gold price."


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Wednesday January 16
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