Tangible Investments

July 18

2016

Weekly Gold Market News

Brexit Turmoil Continues To Underpin Gold

Los Angeles CA, (Tangible Investments) - by James O'Dell - Precious metals prices were mixed in early trading on Monday with Gold up 0.09 percent to $1,330.10 an ounce, after easing $6.20 or 0.46 percent on Friday to end the week at $1,328.90 an ounce.

Silver is down 0.79 percent to $19.94 an ounce, after easing $0.21 or 1.03 percent on Friday to finish the week at $20.10 an ounce, while the Gold/Silver ratio rose to 66.11. Platinum is down 0.36 percent to $1,088.50 an ounce and Palladium is down 1.46 percent to $639.50.

The week began with Gold dipping moderately after global stock markets rose in overnight trading following a stronger than expected U.S. jobs report the previous week that showed the economy generated 287,000 new jobs in June, while the jobless rate rose to 4.9 percent. Gold went on to post its sixth straightweekly advance as the Fed seemed in no hurry to lift interest rates any time soon.

On Tuesday, Gold remained near levels reached on Monday as stocks rallied in Asia overnight and markets decided whether the latest jobs report had bolstered the economic outlook enough to allow another rate hike by the Fed. Gold continues to benefit from the turmoil created when the U.K. voted to leavethe European Union (EU), also known as "Brexit."

Gold rose on Wednesday after recovering from a near two week low overnight, as bargain hunters "bought the dip," even as the Dow reached record highs. St. Louis Fed President James Bullard gave Gold a bit of a boost when he suggested the Fed should keep the federal funds rate nearly unchanged for thenext two or three years.

Bullard said the “shock” of the U.K.’s vote to leave the European Union (EU) is the reason U.S. Treasury yields have fallen to historiclows. “Wall Street has taken that as a signal that growth is slowing,” said Bullard. "I think it’s a flight to safety," he added.

Gold dipped on Thursday as investors took profits while U.S. stocks hit fresh record highs and the dollar fell for a third straight day. Analysts remain optimistic with near-term support at $1,320 an ounce. Phillip Streible, of RJO Futures says investors should not rule out further short-term weakness in Gold; but hebelieves the long-term bull market will remain, if prices can stay above $1,252.80 an ounce.

Meanwhile, the ANA Summer Seminar has just concluded for this year in Colorado Springs, CO., and it is being called one of the best programs the ANA has conducted. Many of the instructors are NGC employees with decades of numismatic teaching experience, so the classes are being hailed as numismaticeducation at its finest, and this year, like most, more than half of those participating were repeat students.

The coin grading classes remained the most popular at this year's Seminar and as usual were sold out well in advance. The counterfeit detection classes were also very popular this year with coin shop employees looking to sharpen their skills in detecting fakes. Young numismatists between the ages of 13 and 17years old can visit money.org and apply for a scholarship to the Summer Seminar in 2017. Those interested in attending next year are advised to sign upearly.

Preserve your wealth and secure your retirement by making a tangible investment in physical Gold and Silver in 2016. Call Toll Free 1.888.655.9255 and allow the friendly staff at Tangible Investments owned and operated by world-renowned coin expert Silvano DiGenova, to assist you in your next purchase or sale.Click here to check out our eBay store.

You may also want to allow one of our Gold IRA specialists to construct for you a precious metals IRA tailored to your specific needs. We hope you will share our site with your friends on Twitter and Facebook. Tangible Investments remains the leading buyer of rare objects including: Gold and Silver coins, art,antiques, diamonds, sterling and flatware. We also loan against anything of value and offer more money at half the loan cost, come in or call 1.888.655.9255now for a free quote.

Latest Spot Prices

METALBIDASKCHG$CHG%
Gold1322.401323.10$0.000.00%
Silver19.6419.68$0.020.10%
Platinum1084.001087.00$0.000.00%
Palladium682.00685.00$0.500.07%

Other News This Week

Worlds Fair Of Money Coming To Anaheim

Los Angeles CA, July 22 (Tangible Investments) - by James O Dell - Gold and Silver prices turned lower in early trading on Friday with Gold down 0.78 percent to $1,320.70 an ounce, after rallying... [Read More]

Gold Gets Bounce Courtesy Of Central Banks

Los Angeles CA, July 21 (Tangible Investments) - by James O Dell - Gold and Silver prices rebounded in early trading on Thursday with Gold up 0.50 percent to $1,322.60 an ounce, after sliding $16.20... [Read More]

Analysts Saying Buy The Dip In Gold

Los Angeles CA, July 20 (Tangible Investments) - by James O Dell - Precious metals prices were lower across the board in early trading on Wednesday with Gold down 1.22 percent to $1,315.90 an ounce,... [Read More]

Gold Consolidates Poised To Move Higher

Los Angeles CA, July 19 (Tangible Investments) - by James O Dell - Gold and Silver prices were mixed in early trading on Tuesday with Gold up 0.36 percent to $1,330.50 an ounce, after easing... [Read More]

Gold Volatile Following Failed Coup Attempt In Turkey

Los Angeles CA, July 18 (Tangible Investments) - by James O Dell - Precious metals prices were mixed in early trading on Monday with Gold up 0.09 percent to $1,330.10 an ounce, after easing $6.20... [Read More]

About Tangible Investments

Led by renowned coin expert Silvano DiGenova, Tangible Investments is a leader in the Gold IRA, Bullion, Rare Coins, Jewelry, Fine Watches, Fine Art, and Antiques markets. With 30+ years in business and a collective 200+ years of industry experience, Tangible Investments is one of America's most successful rare coin traders and the top buyer in the country. Call Us Today at 1-888-655-9255 to see how we can help you diversify your portfolio and protect your retirement savings.

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