Gold prices report on October 1, 2018
1g. 33.60 EUR
1oz. 1045.00 EUR
Price in EUR per kg
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Gold prices report on October 1, 2018
Global InterGold

 

On Tuesday, 25th of September, experts evaluate the situation on the world market as an economic turmoil. Trading showdown between the US and China can have devastating consequences that will spread throughout the world. On Monday, both countries did not come to an agreement; lack of compromise will undoubtedly affect the prospects for economic growth.

Analysts of RBC Capital Markets noted that one of the factors that hold gold in captivity is the change of investors’ attitude towards risks:

"The market needs significant negative economic consequences from the ongoing trade conflict, so that gold can compensate for the effect of a strong dollar and return to the position of a safe harbor."

Experts also believe that the two-day meeting of the Federal Reserve will end with a further rise in interest rates. The tightening of the Fed's policy will have an impact on the positions of the American currency.

On Tuesday, an ounce of yellow metal cost $1,200.

 

On Wednesday, 26th of September, Turkish President Recep Erdogan commented on increase of the interest rate by the country’s Central bank, calling it an independent decision. The reaction to the exchange rate of the national currency followed right away. The Turkish lira has grown by 0.03 %, while the US dollar index fell by 0.14 % against the world currencies and stood at 93.86.

The World Gold Council has predicted an increase in retail sales of the precious yellow metal in India in the second half of 2018 by 25 %. The reason for that was the growth of the purchase price of grain. Traditionally, villagers and farmers spend part of their profits on the purchase of golden jewelry supporting the demand for the noble metal.

Two major gold mining companies — Barrick Gold and Randgold Resources — have signed a merger agreement. The new structure the New Barrick Group (NBG)  will become the largest gold-mining company, as well as the top gold producer in the world with NBG capitalization of 18 billion dollars.

Carol Harmer, one of the most respected technical analysts in the UK,  predicts a rise in the price of the yellow metal:

"Gold should be viewed as a tactical asset. Looking back at what happened to gold in August, I think the price of the precious metal is ready to grow to at least $1,217, possibly up to $1,253 over 14 days."

Today, the US currency is crashing following other global currencies. Such a trend will undoubtedly affect the economy of major world powers, which in turn will have a positive effect on the growth of the gold market.

Leonid Bershidsky, experienced journalist and Bloomberg opinion columnist , believes that the era of dollar dominance ends soon:

"The international domination of one currency cannot last forever, and the US dollar is no exception. Efforts to push the dollar off its pedestal are becoming even more serious."

On Wednesday, the price of the yellow metal was $1,194 per ounce.

 

During the United Nations session, Donald Trump accused China of trying to meddle in the upcoming November congressional elections in the United States.

In the photo: Donald Trump spoke at the UN General Assembly.

Trump also said that thanks to his efforts, America won a trade dispute with China.

"China tried to intervene in our election, they don’t want me to win, since they haven't  faced such a challenge before; they imposed import duties of 25-55 %, but we did nothing in response. Now the situation is different, and now we are winning."

Answering the question of journalists about whether relations between the US and Chinese leaders would remain friendly, the US President Donald Trump said about the Chairman Xi Jinping:

"Maybe he’s not my friend anymore."

Such utterances are likely to lead to an escalation of the China-US relations conflict, Bloomberg notes.

 

On Thursday, 27th of September reacting to intergovernmental disputes, an ounce of gold was worth $1,182.

In an interview with the news site USAWatchDog, David Morgan, a well-known market analyst specializing in precious metals,  shared his view on the rise of gold prices.

The expert noted that, despite constraining factors, stability in the world has been undermined and the price of the yellow metal has reached an economically justified level.

David Morgan, expert on gold, analyst:

"The price of gold has reached its cost price, it's a fact. The cost-effectiveness of gold mining companies remains high, which indicates that the price of the precious metal will not fall lower, below these marks."

"Central banks increase the volume of gold not because of the monetary system’s rules, but because of fear of what’s going to happen to the US dollar when it just as well depreciates," expert concludes.

 

On Monday, 1st of October, the price of gold was $1,186 per ounce.

Analysts of the British investment bank HSBC are convinced that the precious metal will set a new price record, falling within the range of $1,300 - $1,330 per ounce by the end of 2018.

Gold continues to serve as a guarantor of stability and independence from economic pressures.

 

Gold is a reliable asset for your Financial Security.

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Published: 01.10.2018
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Makkagold
Makkagold
Доброе утро! Я тоже хочу заботится о своих близких, кажется все мои мечты сбываются! Вся надежда на вас т.е.на бизнес! Я рада и довольно! Благодарю всех кто мне помог
Oct 05
answer
RaisaSh_SZ
RaisaSh_SZ
Хорошо, что есть такая дружная кампания. Она помогает обучаться и расширяет кругозор в бизнесе. Также предоставляет инструменты для успешного развития в бизнесе.
Oct 05
answer
RaisaSh_SZ
RaisaSh_SZ
Хорошо, что есть такая дружная кампания. Она помогает обучаться и расширяет кругозор в бизнесе. Также предоставляет инструменты для успешного развития в бизнесе.
Oct 05
answer
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