Today’s Gold Prices: USD 1140.00, EUR 1010.73 and GBP 746.46 per ounce.
Yesterday’s Gold Prices: USD 1141.90, EUR 1012.23 and GBP 744.10 per ounce.
Gold was marginally higher yesterday and closed at $1139.80 per ounce, up $4.30. Silver was 0.1% lower and closed at $14.60 per ounce.
Silver in USD – 5 Years
Stocks in the U.S., Asia and this morning in Europe had seen a renewed rout as concerns about China’s slowing economy and the global economy badly impacts financial markets.
The Standard & Poor’s 500 Index began September badly with its third-biggest loss of 2015 as the sharp falls that erased $5.7 trillion from the value of shares globally in August continued.
Oil tumbled the most in two months after a 27% gain in the previous three days. Emerging assets plunged and a measure of the risk premium on high-yield debt jumped.
Demand for safe haven assets such as Treasuries, gold and silver remerged. Despite a month over month decline in coin sales amid volatility in the metals market, the U.S. Mint posted solid coin sales in August.
According to the latest data on the US Mint’s website, sales of the American Eagle Bullion gold coin amounted to 101,500 ounces last month, down 40% from the 170,000 ounces sold in July. However, year-over-year, coin sales rose 306% when compared to the 25,000 ounces sold in August 2014 – see the full article in Commentary here.
Gold extends rally, Chinese frailty sinks equities – The Bullion Desk
US Mint’s American Eagle Bullion Sales Rally in August – CoinNews.net
Gold at One-Week High on Weaker Equities and Dollar’s Retreat – The Wall Street Journal
Money—How to Get It and Keep It – Casey Research
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