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March Gold News 2019


Gold price jumps following gloomy Eurozone data

Gold price jumps following gloomy Eurozone data

The price of gold has risen to £997.75 per ounce – up from £977.89 yesterday – following news from the European Central Bank that the Eurozone will experience even weaker growth this year.

Yesterday the European Central Bank announced that they were cutting their growth forecast for the Eurozone in 2019, with the ECB president Mario Draghi stating that there would be no increases in interest rates this year and that the ECB would reintroduce cheap loans for banking institutions as a stimulus package for the continent.

Fresh recession warnings for UK economy over no-deal Brexit

Fresh recession warnings for UK economy over no-deal Brexit

The UK economy faces recession in the event of a no-deal Brexit happening this year according to the Organisation for Economic Co-operation and Development.

The OECD has downgraded the UK’s growth for 2019 to just 0.8% (down from 1.4%), at the same time that IHS Markit has reported confidence levels have hit the lowest since both the Brexit referendum result in 2016 and the financial crisis in 2008/09.

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