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GOLD:  Down Again on Trump’s Shot at BRICs. 

GOLD
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  • President elect Trump warned BRICs nations of their requirement to continue to us the USD as the base currency.
  • This put upward pressure on the USD and saw Gold down.
  • Having closed on Friday at $2,643.15, in Asia morning trade it has slipped to $2,635.50.
  • Gold finished last week on a weak footing, down over 5% for the week on moderating geo-political tensions in the middle east despite fears of further escalation in Ukraine.
  • In Australia this morning, news out that Northern Star Resources Ltd will buy De Grey Mining Ltd for US$3.3bn in what could be the start of consolidation for the sector. 
  • Gold markets will focus on Non-Farm Payrolls in the US this week as an indication for interest rates.
  • Lower interest rates are generally seen as good for gold as it does not pay interest. 
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  • President elect Trump warned BRICs nations of their requirement to continue to us the USD as the base currency.
  • This put upward pressure on the USD and saw Gold down.
  • Having closed on Friday at $2,643.15, in Asia morning trade it has slipped to $2,635.50.
  • Gold finished last week on a weak footing, down over 5% for the week on moderating geo-political tensions in the middle east despite fears of further escalation in Ukraine.
  • In Australia this morning, news out that Northern Star Resources Ltd will buy De Grey Mining Ltd for US$3.3bn in what could be the start of consolidation for the sector. 
  • Gold markets will focus on Non-Farm Payrolls in the US this week as an indication for interest rates.
  • Lower interest rates are generally seen as good for gold as it does not pay interest.