April Gold News 2019

The USA announced better than expected GDP figures last Friday, hitting 3.2% growth for the first quarter of 2019, but now economists are asking: is the US economy overheating?

President Trump has effectively borrowed from the future with tax cuts in order to stimulate the American economy, thus defying the global economic slowdown, but as the country nears full employment there is the risk that demand will outstrip supply, triggering rapid inflation of prices and wages.

The price of gold is currently at £992.15 per ounce as the Pound Sterling continues to struggle against the US Dollar. The Pound hit a two-month low yesterday, closing at $1.2949, and today its fortunes have continued to decline, now hitting a 10-week low of $1.2879.

A group of four students from Israel have discovered an extremely old and rare gold coin while out orienteering with their school in the north of the country.

The coin they found is a Solidus; a near-pure gold coin from the Byzantine Empire – what was in effect the Eastern Roman Empire.

Researchers at the University of Kent’s Business School have published a paper detailing the performance of the silver price against the demand for solar panels and their energy output.

A hoard of 14th century gold and silver coins has been discovered by a group of amateur metal detectors, with an estimated value of £150,000.

The 'Hambleden Hoard' is one of the largest British finds in years, and is being kept in a museum prior to being sold, with the proceeds to be split between the landowner and the four men who made the discovery.

The Indian government’s crackdown on election fraud resulted in a cumulative seizure of 107 kg of gold last month - gold intended to bribe voters, with a value of 300 million Rupees or £3.3 million.

India's general election runs in seven phases, from April 11th to May 19th, before the results are totalled and announced to the public on May 23rd.

China has added to its national gold reserves for the fourth consecutive month according to the latest figures issued by the People’s Bank of China.

Monthly figures from the bank disclosed an additional 11.2 tonnes had been bought by the Chinese government – an extra 360,000 troy ounces of gold bullion.

• UK house prices up by 2.6% for Q1 2019 compared to Q1 2018
• Prices are down 0.2% from the three months previous
• London prices down 3.8% for Jan - Mar
• Quarterly prices down in England for the first time since 2012

International stock markets have reached a six-month high point this week. Fresh data put the MSCI All-Country World Index up by 1.1% to 514 points - its best position since last October.

Positive talks and progress between the US and China over trade triggered stock market gains last week and saw a return of optimism to trading, with gains made on the FTSE, Dow Jones, Nikkei and Shanghai exchanges.

The Pound has hit a one-week high today after Prime Minister Theresa May revealed she would meet with Jeremy Corbyn, the Leader of the Opposition, to discuss ways to make a compromise over Brexit.