Poland and Australia Buys Gold As Global Property Bubble Bursts - This Week's Golden Nuggets
Here is our Friday digest of the important news, commentary, charts and videos we were informed by this week.
We released our latest short video update in which we explored whether the global property bubble was beginning to burst?
Positive developments in the gold market included a surge in demand for gold and silver bullion coins 'Down Under' with our friends at the Perth Mint of Western Australia (we have been an Approved Dealer since 2005). As the Aussie property bubble continues to burst, risk-averse investors are accumulating physical gold and silver as hedges and insurance.
Another important development was an EU central bank buying gold for the first time since 1998. Poland's central bank added to its gold reserves in August, buying more than seven tons of gold, which followed its purchase of two tons in July.
The prudent are advocating reducing allocations to overvalued risk assets - especially bonds. We featured an excellent article by Money Week editor John Stepek in which he made the case for owning equities and gold, rather than bonds.
Stepek's article was prescient as bond markets, especially the US bond market, have seen serious sell-offs and a marked rise in yields yesterday. The serious ramifications of this for stock markets and the wider market is now being digested.
Enjoy and have a nice weekend!
Market Updates and News This Week
Are Global Property Bubbles Starting To Burst? GoldCore Video
Interest Rates Are Spiking Again: Why This Is A Huge Deal
Perth Mint's Gold and Silver Bullion Coin Sales Soar In September
"I'm Favouring Equities and Gold Over Bonds" - Stepek
Poland Buys Gold For First Time In 20 years
"Gold Is Very Oversold And Due A Bounce" said GoldCore
Silver and Platinum Are Both Very Cheap
Charts This Week
Source: Bloomberg
Source: Bloomberg
Source: Bloomberg
Source: ZeroHedge
Videos This Week
Gold Prices (LBMA AM)
04 Oct: USD 1,199.45, GBP 925.02 & EUR 1,043.28 per ounce03 Oct: USD 1,203.50, GBP 925.73 & EUR 1,040.55 per ounce02 Oct: USD 1,192.65, GBP 919.77 & EUR 1,035.46 per ounce01 Oct: USD 1,185.30, GBP 907.94 & EUR 1,021.02 per ounce28 Sep: USD 1,183.50, GBP 906.44 & EUR 1,020.41 per ounce27 Sep: USD 1,196.00, GBP 911.59 & EUR 1,020.91 per ounce
Silver Prices (LBMA)
04 Oct: USD 14.63, GBP 11.27 & EUR 12.72 per ounce03 Oct: USD 14.74, GBP 11.36 & EUR 12.75 per ounce02 Oct: USD 14.51, GBP 11.20 & EUR 12.59 per ounce01 Oct: USD 14.55, GBP 11.16 & EUR 12.53 per ounce28 Sep: USD 14.31, GBP 10.97 & EUR 12.35 per ounce27 Sep: USD 14.42, GBP 10.98 & EUR 12.31 per ounce