Gold Price Gains 1.7% While Silver Surges 4.9% After Weak US Data Compounds Global Recession Fears

September 4, 2019
Executive & Research Director @ GoldCore

* Gold gained 1.7% and silver surged 4.9% yesterday after weak U.S. manufacturing data reinforced fears of a U.S. and global recession

* The escalation in the U.S.-China trade war and the political shambles in the UK and Brexit further bolstered gold bullion’s safe-haven appeal

* U.S. manufacturing activity contracted for the first time in 3 years in yet another indication that we are in a recession or soon to enter one

* Silver surged 4.9% to near a 3 year high, breaching the $19/oz level


Mark O'Byrne is executive and research director of which he founded in 2003. GoldCore have become one of the leading gold brokers in the world and have over 4,000 clients in over 40 countries and with over $200 million in assets under management and storage.We offer mass affluent, HNW, UHNW and institutional investors including family offices, gold, silver, platinum and palladium bullion in London, Zurich, Singapore, Hong Kong, Dubai and Perth. 

In 1934 President Franklin Delano Roosevelt devalued the dollar by raising the price of gold to $35 per ounce.

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