Online:
Visits:
Stories:
Profile image
By silveristhenew (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

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

Thursday, March 23, 2017 6:57
% of readers think this story is Fact. Add your two cents.

(Before It's News)

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

 – 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 and Silver Bullion – News and Commentary

Gold’s Six-Day Winning Streak Ranks as Best Gain Since Brexit (Bloomberg.com)

Four dead, at least 20 injured in UK parliament ‘terrorist’ attack (Reuters.com)

U.S. Stocks Rise as Rout Eases; Bonds, Gold Climb: Markets Wrap (Bloomberg.com)

Sears Plummets After Filing Sparks Concern That End Is Near (Bloomberg.com)

Lead surges 4% after substantial decline in warehouse stocks (FinFeed.com)

Gold – Looking At A Massive Breakout (SeekingAlpha.com)

Don’t look now, but inflation may be about to surge – CNBC (CNBC.com)

Anger after Eurozone finance ministers say southern Europe blew cash on ‘drinks and women’ (Telegraph.co.uk)

Why investors are no better than lab monkeys (StansBerryChurcHouse.com)

Video: Why Lower Oil Could Drive Gold Higher (Bloomberg.com)

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


Recent Market Updates

– Peak Gold – Biggest Gold Story Not Being Reported
– Silver 1/ 70th The Price of Gold – Silver Eagles Sales Jump
– The Best Ways to Invest in Gold Today
– Gold Cup – Horse Racing’s Greatest Show, Gambling and ‘Going for Gold’
– Gold Up 1.8%, Silver Up 2.6% After Dovish Fed Signals Slow Rate Rises
– Most Overvalued Stock Market On Record — Worse Than 1929?
– EU Crisis Is Existential – Importance of Tomorrow’s Vote
– Digital Gold On Blockchain – For Now Caveat Emptor
– Gold $10,000 Coming – “Time To Prepare Is Now”
– Silver Very Undervalued from Historical Perpective of Ancient Greece
– Gold Investing 101 – Beware Unallocated Gold Accounts With Indebted Bullion Banks and Mints (Part II)
– Gold Investing 101 – Beware eBay, Collectibles and “Pure” Gold Coins that are Gold Plated
– “Think About and Prepare For” Euro Catastrophe

Access Daily and Weekly Updates Here

Interested in learning more about physical gold and silver?
Call GoldCore and speak with a gold and silver specialist today



Source: http://silveristhenew.com/2017/03/23/gold-prices-see-seventh-day-of-gains-after-terrorist-attack-in-london/

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.