RE: GOLD $159918 Feb 2020 18:34
Daily Gold Market Report
Gold advances on safe haven demand, at all-time highs in six major currencies
(USAGOLD – 2/18/2019) – On Friday we mentioned that gold is being both helped and hurt by the coronavirus outbreak. Flagging jewelry demand in China is hurting while safe haven demand everywhere else is helping. In today’s early trading, the meter swung to “helped” – and helped in a big way. The metal is up $17.50 at $1601 and up $25 since Friday morning’s report. Silver is up 34¢ at $18.20. In a Bloomberg interview late last week, Goldman Sach’s analyst Jeffery Currie said the firm is still bullish on gold with geopolitical risks, the availability of surplus savings globally and de-dollarization the dominant driving forces behind its appeal. It is worth noting that gold is now at all-time highs in six major currencies – the Australian dollar, the Brazilian real, the British pound, the Canadian dollar, the euro, and the Indian rupee.