November 26 Gold Report
1g. 34.12 EUR
1oz. 1061.00 EUR
Price in EUR per kg
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November 26 Gold Report
Global InterGold

 

Goldman Sachs bank forecasts the slowdown of USA economy in 2019 related to the growth of inflation and raise or Federal Reserve Service interest rates. The weakening of dollar means uneasy times for the USA.

Ray Dalio, the founder of Bridgewater Associates:

"It will be America's worst nightmare!"

 

Weaker dollar always means stronger gold. For that reason, billionaire Dalio recommends to stay away from political risks by keeping 10 % of actives in gold.

 

On Monday, November 19, the ounce of gold cost 1224 $.

On Tuesday, the unsolved Brexit situation keeps influencing the market. The government of Theresa May has scheduled to introduce the plan of British exit from the EU on November 25 at European summit. A certain attention has been attracted by Mark Carney, the Governor of the Bank of England, who has expressed support to Brexit. In Carney's opinion, the actions of Great Britain will clear the uncertainty and promote the country's development in the future.

The Bank of England Governor Mark Carney: the transitional period will help the country avoid negative shock.

On Tuesday, November 20, the ounce of gold cost 1221 $.

 

November 21 has become an important day for Italy. The situation in the country is not close to perfect, the positions of Italian enterprises on the stock exchanges have shaken. Vice Prime Minister Matteo Salvini has spoken about a financial attack and desire of speculators to bring down the stock exchange in Milan.

Matteo Salvini, Italian politician

On Wednesday, the European Commission rejected the budget changes proposed by the Italian government. European Commissioner Pierre Moscovici spoke of a possibility to begin the procedure of imposing sanctions for violating EU rules in two weeks.

On November 21, the ounce of gold cost 1226 $.

 

On November 22, the dollar weakened its position due to Thanksgiving Day in the USA and low trading activity on the stock exchanges.

The market was also influenced by Italy's refusal to reconsider the budget project for 2019, previously declined by European Commission because of its excessive spendings.

"This is a situation in progress... and any negative news from Italy is positive for gold", - says Jasper Lawler, economy expert at London Capital Group.

On Tuesday, November 22, the ounce of gold cost  1227 $.

 

On Friday, world attention was focused on resolving the Brexit situation. The UK and the EU have agreed on a draft declaration on how relations between Britain and EU will develop after the exit.

At the Sunday summit in Brussels, it is planned to extend the transitional period after the “divorce” until 2022.

On November 23, the ounce of gold cost 1223 $.

 

On Monday, November 26, the ounce of gold cost 1228 $.

Joe Foster, financial adviser, predicts a new crisis in the world economy. In expert's opinion, gold will remain the preferred option for investment when it comes to risk protection.

As a Global InterGold co-owner, you become a part of a powerful force aiming for Financial Security, better world and prosperous life!

 

WHEN YOU OWN GOLD -

YOU ARE FINANCIALLY INDEPENDENT!

 

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Published: 26.11.2018
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