Gold Gains 1.7% and Silver Surges 4.9% After Weak U.S. Data Compounds Global Recession Fears

CEO, GoldCore • Sep 4, 2019 at 9:00 AM EDT

Gold gained 1.7% and silver surged 4.9% yesterday after weak U.S. manufacturing data reinforced fears of a U.S. and global recession.

The escalation in the U.S.-China trade war and the political shambles in the UK and Brexit further bolstered gold bullion’s safe-haven appear.

U.S. manufacturing activity contracted for the first time in 3 years in yet another indication that we are in a recession or soon to enter one.

Silver surged 4.9% to near a 3 year high, breaching the $19/oz level.

Disclosure:

The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore is a Multi-Agency Intermediary regulated by the Irish Financial Regulator.

GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 63 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'