22
Mar
2016

Global Stocks Fall, Bonds and Gold Rise After Terrorist Attacks In Brussels

Safe haven assets, gold, silver and German bonds rose, while European stocks and global stock futures fell, after explosions rocked Brussels airport departure hall and a subway station near the EU parliament and other important EU institutions. At least 26 people are reported to have been killed after the explosions which the Belgian prosecutor has alleged are terrorist attacks.

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Asset Performance – March 22, 2016 (Finviz)

Gold in dollar terms rose 0.8% but the gains were greater in euro and sterling terms. Gold in euros terms rose from €1,108/oz to €1,123/oz or 1.3% and gold in sterling rose from £865/oz to £881.50/oz or nearly 2%.

Silver also saw a safe haven bid and moved higher with gold to reach $16.oo/oz again. Silver also saw a safe haven bid and moved higher with gold to reach $16.00/oz again. Silver in euro and sterling terms rose to multi month highs.

The German DAX fell by nearly 1% and the Stoxx Europe 600 Index fell the most in a week as the attacks caused deaths and injuries and spurred fears of imminent follow-up attacks in the capital of the European Union and internationally.

Travel and leisure shares including airlines and hotels led the slide and futures on the Standard & Poor’s 500 Index also declined. Global stock markets fell from multi-week, month and annual highs as reports on the scale of the carnage in the Belgian capital unfolded.

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Gold in EUR – 24 Hours (GoldCore)

The yield on 10-year bunds touched the lowest in almost two weeks, while gold gained for the first time in four days as investors sought safer assets.

The pound dropped by even more than than the euro and against all its major peers amid increasing concerns about the UK electing to ‘BREXIT’ and the ramifications of BREXIT for UK companies, the wider economy and indeed sterling.

Gold Prices (LBMA)

22 Mar: USD 1,251.80, EUR 1,117.35 and GBP 876.96 per ounce
21 Mar: USD 1,244.25, EUR 1,104.47 and GBP 863.60 per ounce
18 Mar: USD 1,254.50, EUR 1,112.93 and GBP 868.78 per ounce
17 Mar: USD 1,269.60, EUR 1,119.40 and GBP 883.17 per ounce
16 Mar: USD 1,233.10, EUR 1,111.79 and GBP 874.09 per ounce

Silver Prices (LBMA)

22 Mar: USD 15.89, EUR 14.16 and GBP 11.12 per ounce
21 Mar: USD 15.81, EUR 14.02 and GBP 10.99 per ounce
18 Mar: USD 15.94, EUR 14.13 and GBP 11.02 per ounce
17 Mar: USD 15.78, EUR 13.86 and GBP 10.93 per ounce
16 Mar: USD 15.29, EUR 13.78 and GBP 10.84 per ounce

Gold News and Commentary

Global stocks fall, gold and govt bonds rise after Brussels explosions (Reuters)
Global stocks fall, gold rises after Brussels explosions (Marketwatch)
Gold ends below $1,250 as Fed officials float April rate hike (Marketwatch)
Germany Continues Repatriation of Gold Reserves From Abroad (Sputnick)
Germany wants its gold back (Russia Today)

Gold’s appeal grows in era of volatile markets (PI Online)
What to avoid and what to buy as inflation makes a comeback (MoneyWeek)
These Eight EU Countries Are in the Budget Danger Zone (BBG)
Ireland gain a little but suffer most from Brexit – Moody’s (Independent)
`Brexit’ May Lead to Downgrades and Slower Economy, Moody’s Says (BBG)

Read More Here

 

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2016 Silver Nuggets or Kangaroos (1 oz)

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Mark O'Byrne
Executive Director