Gold’s Price Rallies to Record Highs in 73 Currencies

Gold’s Price Rallies to Record Highs in 73 Currencies

$XAU, $USD, $AUD, $CAD, $INR, $GBP

Gold marked 6-year highs Friday as investors barged into the safe-haven metal on an escalating US-China trade dispute, and the prospects of a return to ultra-loose monetary policy by the Fed.

Gold for delivery in December, the most active futures contract trading in New York, touched a high of $1,461.90 oz before settling $25.10, or 1.8%, higher at $1,457.50 on the COMEX.

According to FactSet data that is the highest finish for the most-active contract since 9 May 2013.

Sharps Pixley, the Top bullion broker in London, points out that the gold price in GBPs hit an all time high Friday of £1,187.28, beating the previous record set on 11 September 2011.

GBP joins 72 other currencies, including the Canadian Dollar, The Australian Dollar and perhaps most significantly, the Indian Rupee on the Top gold price.

There has been a stealth Bull run in gold and by simply watching the USD gold price, some investors are missing out. 

As of 29 July 2019. 

Have a terrific weekend

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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