Market News: Europe Buying Gold at a Record Pace!

gold coins, gold chart
Written by Mike Hammer

Finishing our thoughts on Europe and gold comes a report that Europeans have been buying gold at a record pace in 2019. Europe’s version of GLD is Invesco Physical Gold ETC, which has seen an inflow of over 500 million USD this year. Now that’s a lotta gold! Apparently, EU member central banks aren’t the only ones chafing against the ECB reins; all this buying is evidence that many regular people are seeing a pinch coming too.

And they’re wanting to protect some asset value by going back to basics. Gold’s recent dip below 1300 may have spurred some buying, as gold regained 1300 in late NY trading yesterday, and TD Ameritrade released an estimate that gold should regain 1322 “sooner than anticipated.”

All news that leaves bulls breathing easier. Today’s featured story has to be about Europe’s rush to gold, and we are keeping an eye on the ECB.

Continue reading at ETFExpress.com

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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