Political Turmoil in UK and US Sees Gold Hit 2 Week High

For first time in over 16 years, palladium futures settle at a premium to gold futures

Gold futures on Wednesday resumed their climb toward the psychologically important price of $1,300 an ounce, settling at their highest in nearly two weeks on the back of political turmoil in the U.K. and U.S.

Caution among traders had deepened "ahead of a no-confidence vote on British Prime Minister Theresa May's government and other geopolitical risks, including the U.S. government shutdown, loom large in investors minds," said Mark O'Byrne, research director at GoldCore.

"Physical demand for gold coins and bars has picked up in the U.K. and Ireland, due to Brexit and U.K. political uncertainty," he added.

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News and Commentary

Gold at highest in nearly 2 weeks on political turmoil in the U.K., U.S. (MarketWatch.com)

Palladium prices hit record on supply deficit, gold firm on rate views (Reuters.com)

Theresa May's government survives a no-confidence vote after its crushing Brexit defeat (CNBC.com)

Shutdown could delay trade talks with EU, Japan, Grassley warns (MarketWatch.com)

Pessimism About U.K. Housing Is at Its Worst in Two Decades (Bloomberg.com)

Turkey set to refine more Venezuelan gold as Maduro sends committee (AhvalNews.com)

South African Gold Output Has Longest Losing Streak Since 2012 (Bloomberg.com)

"Geopolitical risks, including the U.S. government shutdown, loom large in investors minds," said GoldCore(MarketWatch.com)"

Goldman Says Rich People Will Drag Down the U.S. Economy by Spending Less (Bloomberg.com)

London house prices:Brexit 'horror show' provokes fears of steeper decline (HomesAndProperty.co.uk)

'Patron Saint' of the Investing Business: Remembering Jack Bogle (Bloomberg.com)

Regulators Urge Deutsche Bank To Merge With European Rival (To Spread The Pain) (ZeroHedge.com)

Polgar: "World Is Comfortably Unaware Of Approaching Disaster" (ZeroHedge.com)

The Newmont-Goldcorp Deal Is Positive News for Gold Sector (GoldSeek.com)

Gold Prices (LBMA PM)

16 Jan: USD 1,290.50, GBP 1,002.46 & EUR 1,130.99 per ounce15 Jan: USD 1,289.35, GBP 1,002.99 & EUR 1,127.67 per ounce14 Jan: USD 1,293.70, GBP 1,007.02 & EUR 1,129.27 per ounce11 Jan: USD 1,298.80, GBP 1,012.91 & EUR 1,123.96 per ounce10 Jan: USD 1,292.40, GBP 1,012.98 & EUR 1,121.54 per ounce09 Jan: USD 1,281.30, GBP 1,006.41 & EUR 1,118.32 per ounce08 Jan: USD 1,291.90, GBP 1,006.71 & EUR 1,121.62 per ounce

Silver Prices (LBMA)

16 Jan: USD 15.54, GBP 12.09 & EUR 13.66 per ounce15 Jan: USD 15.60, GBP 12.13 & EUR 13.65 per ounce14 Jan: USD 15.61, GBP 12.13 & EUR 13.61 per ounce11 Jan: USD 15.68, GBP 12.23 & EUR 13.60 per ounce10 Jan: USD 15.70, GBP 12.33 & EUR 13.63 per ounce09 Jan: USD 15.62, GBP 12.27 & EUR 13.64 per ounce08 Jan: USD 15.64, GBP 12.24 & EUR 13.64 per ounce