Why Gold Prices Have Climbed To Their Highest Since 2013

July 15, 2019

Dovish statements from global central banks recently aren’t the only reason for gold’s rise past $1,400 an ounce this week to levels it hasn’t seen in nearly six years.

“Gold is a global market and U.S. monetary policy, while important, is not the only driver of performance,” Juan Carlos Artigas, director of investment research at the World Gold Council, told MarketWatch on Friday.

On the macroeconomic level, there’s “the combination of increase geopolitical tensions and a more accommodative monetary policy stance signaled by central banks, including the [European Central Bank] and the [U.S. Federal Reserve], which have pushed global interest rates lower,” he said.

U.S.-China tensions over trade policy persist as traders await an expected meeting and progress toward a resolution on the trade dispute, between U.S. President Donald Trump and Chinese President Xi Jinping at the Group of 20 leaders summit was June 28-29.

Full article via Marketwatch here

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Mark O'Byrne is executive and research director of www.GoldCore.com 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. 

Minting of gold in the U.S. stopped in 1933, during the Great Depression.