Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years

//Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years

Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years

Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years

Gold rose as the dollar fell to near a three-year low against a basket of currencies on Friday, heading for its biggest weekly loss in nine months, as a slew of bearish factors including firming inflation and a fall in retail sales and industrial production hit the dollar.

Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years gold price 10 years goldcore

Gold in USD – 10 Years – (GoldCore)

U.S. producer prices accelerated in January, boosted by strong rises in the cost of gasoline and healthcare, offering more evidence that inflation pressures are building. The U.S. producer price index for final demand rose 0.4% last month after being unchanged in December.

In a second U.S. report yesterday, initial claims for state unemployment benefits increased by 7,000 to a seasonally adjusted 230,000 for the week ended February 10. U.S. President Donald Trump’s tax reform may help boost U.S. growth in the short term but could have negative consequences for the U.S. deficit and debt in the medium term, warned International Monetary Fund chief Christine Lagarde yesterday.

Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years Episode 2 Banner 1

Inflation was also surprisingly high in this week’s regional Fed reports, which saw a surge in the Prices Paid index, the clearest indicator of input cost inflation, which in both the Philly and New York reports jumped to 6 year highs.

U.S. industrial production and retail sales were also weaker than expected this week. U.S. retail sales unexpectedly fell sharply in January, recording their biggest drop in nearly a year. Households cut back on purchases of motor vehicles and building materials.

This in conjunction with the high inflation numbers suggests that there is an increasing risk of stagflation taking hold in the U.S.

News and Commentary

Gold set for 4% gain – biggest weekly gain in nearly 2 years (Reuters.com)

Gold holds above $1350 level, closer to 3-week tops (FXStreet.com)

Bitcoin Chops Near $10,000 After Falling From New All-Time Near $20,000 (GoldSeek.com)

U.S. factory output fails to grow for second straight month (Reuters.com)

Wall Street eyes gold as inflation stirs, futures near multi-year highs (CNBC.com)

Barrick Cuts Gold Output Forecast for Eighth Potential Drop (Bloomberg.com)

Inflation Is Picking Up In The US – and There’s More To Come (MoneyWeek.com)

Bridgewater’s European Short Grows To A Massive $22 Billion: Here Are The Targeted Companies (ZeroHedge.com)

Is the Fed back to ‘quantitative easing’? (InvestmentResearchDynamics.com)

Is the Silver Market Not Manipulated After All? (SilverSeek.com)

The World Embraces Debt At Exactly The Wrong Time (ZeroHedge.com)

Go for gold! Vintage portraits of California prospectors – in pictures (TheGuardian.com)

Gold Prices (LBMA AM)

15 Feb: USD 1,353.70, GBP 962.21 & EUR 1,084.45 per ounce

14 Feb: USD 1,330.75, GBP 959.74 & EUR 1,077.77 per ounce

13 Feb: USD 1,329.40, GBP 955.04 & EUR 1,077.61 per ounce

12 Feb: USD 1,321.70, GBP 955.19 & EUR 1,077.45 per ounce

09 Feb: USD 1,316.05, GBP 945.58 & EUR 1,072.84 per ounce

08 Feb: USD 1,311.05, GBP 944.87 & EUR 1,071.13 per ounce

07 Feb: USD 1,328.50, GBP 956.12 & EUR 1,075.95 per ounce

Silver Prices (LBMA)

15 Feb: USD 16.83, GBP 11.98 & EUR 13.49 per ounce

14 Feb: USD 16.58, GBP 11.97 & EUR 13.43 per ounce

13 Feb: USD 16.61, GBP 11.94 & EUR 13.46 per ounce

12 Feb: USD 16.43, GBP 11.86 & EUR 13.39 per ounce

09 Feb: USD 16.36, GBP 11.83 & EUR 13.37 per ounce

08 Feb: USD 16.35, GBP 11.70 & EUR 13.36 per ounce

07 Feb: USD 16.69, GBP 12.02 & EUR 13.52 per ounce

Recent Market Updates

– Is The Gold Price Heading Higher? IG TV Interview GoldCore

– Global Debt Crisis II Cometh

– Sovereign Wealth Funds Investing In Gold For “Long Term Returns” – PwC

– Bitcoin and Crypto Prices Being Manipulated Like Precious Metals?

– “This Is Where They Completely Lost Their Minds” – Hussman

– Brexit Risks Increase – London Property Market and Pound Vulnerable

– Peak Gold: Global Gold Supply Flat In 2017 As China Output Falls By 9%

– Crypto Currency Backlash Sees Flight From Cryptos and Bitcoin

– Gold Rises As Global Stocks Plunge and Bitcoin Crashes 70%

– Shrinkflation Intensifies – Stealth Inflation As Thousands of Food Products Shrink In Size, Not Price

– U.S. Debt Is “Extraordinarily High” and Are Stock And Bond Bubbles – Greenspan

– Gold Bullion Price Suppression To End? Bullion Bank Traders Arrested For Manipulating Market

– ATMs Hit By Malware “Jackpotting” Attacks That Dispense All Cash In Minutes

The post Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years appeared first on GoldCore Gold Bullion Dealer.

Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years Gold Up 3.8% In Week – If Closes Above $1,360/oz Will Be Biggest Weekly Gain In Nearly 2 Years   ptq

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