Pound Sterling has climbed to a seven-month high against the US Dollar this week, as markets become more confident of a Conservative victory in the upcoming General Election. The Pound is now at its highest since May 2019, hitting a high of $1.314 this morning – a gain of 2.29% in just a week.
December Gold News 2019
One of Britain’s largest funds has been forced to suspend dealing due to problems with liquidity, risking billions of investor funds and potentially similar losses to the Woodford Fund failure from earlier this year.
Figures from the BEGOS rankings of commodities show that, for 2019, gold has been the third-best performing asset – behind the S&P 500 stock market and oil.
Last year – specifically in Dollar terms – the price of gold actually declined year-on-year; down 1.7% versus 2017. This year, gold has gained over 14.5% in Dollars, rising to record-breaking prices in other currencies.
Only a year since the record-breaking Douglas nugget was revealed to have been found in a Scottish river, another prospector has found an even larger specimen hidden on a riverbed, making this one Britain's largest ever gold nugget discovered.
New figures published today by the Institute for Supply Management report that the manufacturing index for November has fallen to 48.1 points; down from 48.3 in October and a fourth consecutive month of sector contraction.
Contradictory data – this time from IHS Markit - showed a rise in the Purchasing Managers Index (PMI) from 51.3 points to 52.6.