Gold Bullion Rose Another 10% In February – Best Month Since January 2012

Gold bullion rose 10.1% in February adding to the 7% gains seen in January. This means that gold is the best performing asset this year, up 17% so far in 2016. Silver is the next best performing asset with an 8% gain year to date, followed by US Treasuries (30 Year Bond) which have gained 7.8% so far in 2016.

Comparatively, the S&P 500 index is down 4.7% this year, the Dow Jones Industrial Average is down 4.5% and the NASDAQ is down 7.8%. International indices have also seen losses with the FTSE down 2.6%, the DAX down 10.7% and the Nikkei down 13.7% (see table below).

Market Performance in February – Finviz.com

Gold is again acting as a hedge for investors and pension owners exactly when they need a hedge.

The biggest influence going forward for gold is “likely to be risk appetite and concerns about markets and the global economy,” Mark O’Byrne, research director at GoldCore told Marketwatch.

“If stock markets begin to recover and make gains and risk appetite returns, then gold could come under selling pressure,” he said. “However, we believe the volatility seen in the first two months is likely to continue.”

Read more on Marketwatch here



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LBMA Gold Prices
01 Mar: USD 1,240.00, EUR 1,141.70 and GBP 886.09 per ounce
29 Feb: USD 1,234.15, EUR 1,131.46 and GBP 890.95 per ounce
26 Feb: USD 1,231.00, EUR 1117.58 and GBP 878.87 per ounce
25 Feb: USD 1,235.40, EUR 1,121.41 and GBP 887.10 per ounce
24 Feb: USD 1,232.25, EUR 1,122.33 and GBP 885.52 per ounce

Gold and Silver News and Commentary
– Gold scores for biggest monthly gain in four years – Marketwatch
– Gold extends gains on safe-haven bids, fund inflows – Reuters
– Gold prices gain strongly in Asia after weak China PMI reading – Investing
– Gold Assets in World’s Top ETP Reach Highest Since September – Bloomerg
– Barclays shares drop 6% after £1.9bn loss and divi cut – FT

– Eurozone Slides Back Into Deflation – Telegraph
– Socialism has created a humanitarian disaster in Venezuela – City AM
– Gold Glows As Stocks Suffer Longest Losing Streak Since 2011 – Zero Hedge
– Patiently Climbing Aboard New Gold Bull – AU Report
– Wall Street Gold Buying Binge Continues – GLD back to 25M ozs – GoldSeek
Read more here


Mark O'Byrne
Executive Director