Earlier on the European Central Bank announced a 25 basis point cut as they press on with their plans to bring interest rates down. This move surprised absolutely no one.
In response, gold has been testing new highs against the euro. At the time of writing it looks like it could push through April's all-time high. Elsewhere, gold has been testing daily highs against the dollar on the back of the release of the U.S. producer price index report, which was not especially interesting.
Gold did take a bit of a tumble. This was on account of the August Consumer Price Index release. CPI, came in largely as expected, but not core prices, which had climbed 0.3% over July. This was an increase above the 0.2% that economists had forecast. This news resulted in a drop in expectations of a 50 basis point cut by the FOMC next week, thus causing gold to suffer slightly.
Recently some of the team and I were in Cork, at the 50 Plus Show. It was great to meet so many clients and readers there. We had some very interesting conversations and plenty of questions regarding how to invest in bullion, through to our expectations on gold and silver performance in the coming months.
There were plenty of event attendees who had never thought of investing in bullion before they saw our stand in Cork. As a result, we realised there were lots of questions that were so useful we should make a video about them. So that's exactly we have done. If you've ever wondered about regulation in the bullion market, how you know who to trust, and if you've missed the boat on gold, then have a watch of our latest video. It's a good one to share with friends who are just starting to think about buying gold and silver.
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