Gold Up 3.5% In August, Stocks Fall 6% to 12%

DAILY PRICES
Today’s Gold Prices:  USD 1141.90, EUR 1012.23 and GBP 744.10 per ounce.
Yesterday’s Gold Prices: Bank Holiday in UK
Friday’s Gold Prices:  USD 1,125.50, EUR 998.23 and GBP 730.99 per ounce.
(LBMA AM)

Gold was marginally higher yesterday and closed at $1135.50 per ounce, up $1.10. Silver was 0.3% higher and closed at $14.64 per ounce.

Gold rose 3.5% in August as stocks globally saw sharp falls on growing concerns about the Chinese and the global economy.  Silver was 1% lower for the month of August and  also acted as a hedge from falling stock markets globally.

Asset Performance in August – Finviz.com

Internationally, stocks had their worst month in the last three years. In one of the most volatile trading periods since the financial crisis, August saw $5.7 trillion erased from the value of stocks worldwide and no major stock market was left unscathed.

The S&P 500 was down a significant 6.3% and the Dow Jones Industrial Average ended the month 6.6% lower, while the Nasdaq was down 6.9%. At one stage losses were much higher but a sharp bounce toward the end of the month meant the declines were that as bad as they looked like they would be.

The weak performance of equity markets in August was mirrored across the world’s major financial centres, with the FTSE down 6.7%. The pan-European FTSEurofirst 300 index recorded a monthly loss of 9% – its worst monthly performance since August 2011.

Read more on the GoldCore.com blog

Download Essential Guide To Storing Gold Offshore