Gold Price Surges 3.2% To $1,241/oz As Deutsche Bank, Stocks Fall Sharply

By: GoldCore

Gold has surged over 3% today on increased safe haven demand as stocks and in particular bank stocks see sharp falls. German shares have nose dived again and German colossus Deutsche Bank has fallen over 8%.

Futures – 1 Day Relative Performance – Finviz.com

A host of negative factors sent investors fleeing riskier assets. Oil prices slid on inventory data and on concerns about slowing global growth as Federal Reserve Chair Janet Yellen warned of several risks facing the U.S. and Chinese economies, and the global economy.

Gold and Silver News and Commentary

Central banks and Chinese buyers helping to spur gold demand – Reuters

Flight to safety sends gold surging above $1,200 to 8-1/2 month highs after Yellen – Reuters

Indian gold demand to climb in 2016 as buyers seek safe haven – Reuters

Gold demand jumps as fear grips markets – Telegraph

Banks drag European shares down as investors seek safety in gold – Independent

VIDEO: JP MORGAN – Gold Rally Breaks the Bullion Downtrend – Bloomberg

VIDEO: I’ve never liked gold-but I do now: Trader – CNBC

Why Gold Has Been on a Tear in 2016 – Fortune

“It’s Probably Something” – Gold Surges Above $1200; USDJPY, Oil, Stocks Plunge – Zero Hedge

China is on a massive gold buying spree – CNN Money

This update can be found on the GoldCore blog here.

Mark O'Byrne

WINNERS MoneyMate and Investor Magazine Financial Analysts 2006

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