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“Higher Gold Prices” On Global Trade Slowdown - HSBC

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HSBC's respected chief precious metals analyst James Steel has written a note pointing out that the global trade slowdown will likely lead to "higher gold prices" as reported by Bloomberg.

 

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Analysts at HSBC Group Inc. are telling clients that gold may be about to have another shining moment, as the precious metal's status as a safe haven asset could boost prices, given the prospect of a looming downward shift in globalization.

 

The firm's Chief Precious Metals Analyst James Steel says in a note published on Friday that "demand for gold is often stimulated by the same factors that fan protectionist and populist sentiment" and that "abrupt declines in cross border trade, investment and immigration, the dislocation of global economic policies, and a beggar-thy-neighbor approach to trade is almost tailor-made for higher gold prices."

 

Previously, Steel advocated owning gold as a "long term insurance policy".

 

When asked about whether he has a “message for gold bugs … people who have Krugerrands in their dressing room drawer”, Steel spoke of gold’s portfolio insurance benefits and “the diversification argument is the most powerful … it is an insurance policy”.

 

See the full article on here

 

 

Gold and Silver Bullion - News and Commentary

 

Gold holds gains on weaker dollar, rising stocks cap gains (Zeebiz)

 

Confidence Among Homebuilders in U.S. Falls From 11-Month High (Bloomberg)

 

Gold futures notch best settlement in nearly 2 weeks (MarketWatch)

 

Rising gasoline, rents push U.S. inflation higher in September (Reuters)

 

UK inflation sees biggest jump in two years (RTE)

 

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Why gold will rise no matter who becomes the next U.S. president (MarketWatch)

 

Gold regain ground in 2017 but ‘bumpy road’ ahead (Reuters)

 

The Importance of The Deutsche Bank Silver Fix Lawsuit Settlement (TFMetalsReport)

 

Saudis, China Dump Treasuries; Foreign Central Banks Liquidate A Record $346 Billion In US Paper (ZeroHedge)

 

Long term case for gold remains intact (ZeroHedge)

 

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Gold Prices (LBMA AM)

 

19 Oct: USD 1,269.75, GBP 1,031.29 & EUR 1,154.97 per ounce

18 Oct: USD 1,261.65, GBP 1,031.15 & EUR 1,145.33 per ounce

17 Oct: USD 1,252.70, GBP 1,029.59 & EUR 1,139.58 per ounce

14 Oct: USD 1,256.15, GBP 1,028.79 & EUR 1,140.08 per ounce

13 Oct: USD 1,258.00, GBP 1,029.93 & EUR 1,141.76 per ounce

12 Oct: USD 1,255.70, GBP 1,024.53 & EUR 1,139.05 per ounce

11 Oct: USD 1,256.40, GBP 1,021.58 & EUR 1,130.76 per ounce

 

Silver Prices (LBMA)

 

19 Oct: USD 17.69, GBP 14.38 & EUR 16.11 per ounce

18 Oct: USD 17.65, GBP 14.37 & EUR 16.03 per ounce

17 Oct: USD 17.40, GBP 14.30 & EUR 15.83 per ounce

14 Oct: USD 17.47, GBP 14.28 & EUR 15.86 per ounce

13 Oct: USD 17.59, GBP 14.40 & EUR 15.95 per ounce

12 Oct: USD 17.44, GBP 14.23 & EUR 15.83 per ounce

11 Oct: USD 17.48, GBP 14.26 & EUR 15.78 per ounce

 

Recent Market Updates

 

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- Gold In GBP Up 43% YTD – “Massive Twin Deficits” To Impact UK Assets

- Ron Paul Says “Gold Going Up” Whether Trump Or Clinton Elected

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- Top Gold Forecaster: “As Quickly As Gold Fell” May “Rally Back” on Global Risks

- Gold Buying ‘Opportunity’ After Surprise 3.4% Drop

- Deutsche Bank “Is Probably Insolvent”

- GBP Gold Rises 1.3% as Sterling Slumps On ‘Hard Brexit’ Concerns, Up 36% YTD

- Why Krugman, Roubini, Rogoff And Buffett Hate Gold

 

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