Market Report: Gold Up, Stocks Slide

by Alasdair MacLeod
Gold Money

Gold and silver closed higher on the week in European trade this morning (Friday). Gold was up $18 at $1240.00, and silver up 35 cents at $14.51. The week saw very quiet trading in both contracts, partly due to US markets being closed on Wednesday for ex-President George Bush’s funeral.

[…] The focus of financial markets has moved from the dollar to trade policies, and a growing feeling that the world will enter a recession in 2019. After a significant drop in the oil price since October, prices are moving sideways rather than recovering. In the last week, most base metal prices also eased, reflecting growing concerns over the economic outlook.

Equity markets have had a torrid week, following a lacklustre G20 last weekend. The arrest of Huawei’s CFO in Vancouver has been cited as the main factor unsettling markets, a judgement assuming cause and effect.

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