Here in the UK….
“Activity across the economy is sliding towards levels normally associated with Bank of England stimulus, not higher rates” (The Telegraph) “Chris Williamson, chief economist at Markit, warned that activity was sliding towards territory that would usually prompt the Bank of England to cut rates or launch more quantitative easing to stimulate the economy.”
Across the pond in the USA…
“Gold jumped 2.1% on Friday after the monthly jobs report showed that the U.S. economy added 142,000 jobs in September, falling short of economists’ estimate of 200,000. The reading shook the confidence of stock-market bulls, undermining the assumption that the Fed could move to raise interest rates before the end of the year.. Mark O’Byrne, research director at GoldCore in Dublin, said gold appears to have “bottomed in the summer.”He said he’s “constructive on the price into year end” and believes gold could go as high as $1,300 per ounce by the end of this year. Longer term, he expects gold to “double in price and surpass its inflation adjusted high of $2,500 per ounce in the next 3 to 5 years.” (Market Watch)
What is your view? Well this buyer who spent 500,310.06 on gold through his smart phone obviously sees some potential!
Oh and if you read the article to the end you will see that the company in question was quoted as saying “You wouldn’t believe how many time we’ve had requests from the BBC or others to come and look at the gold bars. We don’t have any! “.
For fully allocated gold use Bleyer!