Atkinsons Bullion & Coins

Last week we saw gold move between a high of £960 and a low of £937, ending the week just shy of the average at around £946. Today, we are seeing the live price moving around the £940 mark… Not quite what we may have expected following the events of the weekend.

In the last 7 days, we have seen the price of gold go on a little rollercoaster ride, reaching highs of £957 on Wednesday and lows of £942 so far today. This dip could well be as a result of the dollar firming due to the potential of easing tensions between the US and North Korea.

The end of last week shared this sentiment, as we saw the fix move from £939 Thursday 22nd AM, to £952 Friday 23rd am. That’s quite a swing in just 24 hours, up £14. The speculation is that this was a reaction to losses on the global stock markets.

Last week we saw the gold fix price fall, starting the week at £950 GBP on Monday and ending on a fix of at £942 Friday PM.

We talk a lot about the direct impact the USA has on the gold market, so we thought we’d take this opportunity to take a look at one of the planets largest gold consumers, India.

A little-known measure in our industry is the silver to gold ratio. This is the amount of silver ounces in value it would take to buy one ounce of Gold.

As far as I can remember when Rabbie Burns wrote about a wee beastie he was referring to a Mouse. The ‘Wee, sleekit, cowran, tim’rous beastie’, he referred to was a small delicate beast which roamed through the fields of golden corn around his part of the world. The beast we are talking about today could not be more different.

In times gone by, people thought that the world was flat. There was an edge that we could somehow sail to, and just, well, fall off. This thought was of course disproved and explored by brave sailors who just kept going until they eventually came home again. The world today may well be looking flat, but in a slightly different way.

Running in circles has certainly been the way of the world, as we reflect on a week gone by and the start of a new one. The last seven days have seen so much volatility for all markets.

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