‘No Deal’ Brexit Risk Impacting UK and Irish Economies – Gold Gains On Recession Concerns | WHAT REALLY HAPPENED


‘No Deal’ Brexit Risk Impacting UK and Irish Economies – Gold Gains On Recession Concerns

Gold rose to 4 week highs overnight prior to profit taking saw the yellow metal give up some of those gains. Gold marched higher yesterday, extending it’s recent rally due to growing, if belated, concerns over slowing economic growth and the Federal Reserve’s move to looser monetary policies again.

Gold rose 0.8% yesterday to $1,323.40 per ounce which was it’s highest level in a month. Investors have diversified into safe haven gold following news the Fed expects to suspend interest rate rises in 2019. This was something we wrote and spoke about (podcast and video interviews) as inevitable given the fragile nature of the economic recovery.

Even greater uncertainty around Brexit, just three days before Britain’s scheduled departure from the EU on March 29th may impact sterling and markets and should support gold, especially in sterling which has risen to the £1,000/oz level again.

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