{"id":2248,"date":"2017-09-01T14:16:23","date_gmt":"2017-09-01T13:16:23","guid":{"rendered":"https:\/\/www.ukbullion.com\/blog\/?p=2248"},"modified":"2017-09-01T14:16:23","modified_gmt":"2017-09-01T13:16:23","slug":"gold-bullion-market-update-august-2017","status":"publish","type":"post","link":"https:\/\/www.ukbullion.com\/blog\/gold-bullion-market-update-august-2017\/","title":{"rendered":"Gold Bullion Market Update \u2013 August 2017"},"content":{"rendered":"

The gold spot price<\/a> crept up steadily throughout August, opening on the 1st<\/sup> at \u00a3957.76 per troy ounce and peaking at \u00a31,022.67 on the 31st.<\/p>\n

Prior to that late-August peak, however, we saw a 9-month high of \u00a31,005.93 on Friday 18th<\/sup> following an Islamist attack<\/a> in and around the Spanish city of Barcelona.<\/p>\n

Sixteen people were killed and more than 100 injured in a series of attacks thought to have been coordinated by a group of 12 jihadists.<\/p>\n

The attack caused market uncertainty which saw the gold price rise as investors sought to protect their wealth in the precious metal, which has long been regarded as a safe-haven.<\/p>\n

When other markets become volatile following geopolitical uncertainty, it is common for investors to flock to gold, as a comparatively \u2018safe\u2019 commodity.<\/p>\n

This pattern was indeed evident on the 29th<\/sup>, a day that saw a near 10-month high for gold prices following North Korea\u2019s launch of a ballistic missile<\/a> that flew over Japan.<\/p>\n

After the Japanese government issued a warning to residents urging them to take cover, the missile landed off the shore of Japan\u2019s second largest island, Hokkaido, at around 6 am.<\/p>\n

Gold prices soared following the missile launch. The continued political instability surrounding US President Donal Trump adds to the pressures facing other markets, which were shaken by the disbandment<\/a> of two well-known business advisory councils following Trump\u2019s comments on violence in Charlottesville, Virginia.<\/p>\n

\u201cThe ongoing discord coming out of Washington could prove supportive for gold as well, as this could pressure the dollar further just as the Fed is casting fresh doubts about its rate timetable,\u201d INTL FCStone analyst Edward Meir told Reuters<\/a>.<\/p>\n

Mark To, head of research at Jong Kong\u2019s Wing Fung Financial Group, said he expects gold to continue trading in the $1,200 to $1,300 (\u00a3930 – \u00a31,007) range over the medium-term.<\/p>\n

\u201cThe risk factors, including the Trump administration, geopolitical tensions and diplomatic crises, all are now in an evolving state,\u201d he told Reuters<\/a>.<\/p>\n

If you\u2019re interested in holding physical gold as an investment asset, view our range of gold bars here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The gold spot price crept up steadily throughout August, opening on the 1st at \u00a3957.76 per troy ounce and peaking at \u00a31,022.67 on the 31st. Prior to that late-August peak, however, we saw a 9-month high of \u00a31,005.93 on Friday 18th following an Islamist attack in and around the Spanish city of Barcelona. Sixteen people were killed and more than 100 injured in a series of attacks thought to have been coordinated by a group of 12 jihadists. The attack caused market uncertainty which saw the gold price rise as investors sought to protect their wealth in the precious metal, which has long been regarded as a safe-haven. When other markets become volatile following geopolitical uncertainty, it is common for investors to flock to gold, as a comparatively \u2018safe\u2019 commodity. This pattern was indeed evident on the 29th, a day..<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[279],"tags":[],"yoast_head":"\nGold Bullion Market Update \u2013 August 2017 | UK Bullion<\/title>\n<meta name=\"description\" content=\"An analysis of the gold spot price throughout August, including how it was affected by the terror attack in Spain and missile launches from North Korea.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold Bullion Market Update \u2013 August 2017 | UK Bullion\" \/>\n<meta property=\"og:description\" content=\"An analysis of the gold spot price throughout August, including how it was affected by the terror attack in Spain and missile launches from North Korea.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ukbullion.com\/blog\/gold-bullion-market-update-august-2017\/\" \/>\n<meta property=\"og:site_name\" content=\"UKBullion Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/UKBullion\" \/>\n<meta property=\"article:published_time\" content=\"2017-09-01T13:16:23+00:00\" \/>\n<meta name=\"author\" content=\"UKBullion\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@UKBullion\" \/>\n<meta name=\"twitter:site\" content=\"@UKBullion\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"UKBullion\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/gold-bullion-market-update-august-2017\/\",\"url\":\"https:\/\/www.ukbullion.com\/blog\/gold-bullion-market-update-august-2017\/\",\"name\":\"Gold Bullion Market Update \u2013 August 2017 | UK Bullion\",\"isPartOf\":{\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#website\"},\"datePublished\":\"2017-09-01T13:16:23+00:00\",\"dateModified\":\"2017-09-01T13:16:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#\/schema\/person\/b75a2818471441bc13534ace4965f7f2\"},\"description\":\"An analysis of the gold spot price throughout August, including how it was affected by the terror attack in Spain and missile launches from North Korea.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.ukbullion.com\/blog\/gold-bullion-market-update-august-2017\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.ukbullion.com\/blog\/gold-bullion-market-update-august-2017\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/gold-bullion-market-update-august-2017\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.ukbullion.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold Bullion Market Update \u2013 August 2017\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#website\",\"url\":\"https:\/\/www.ukbullion.com\/blog\/\",\"name\":\"UKBullion Blog\",\"description\":\"Welcome to the UKBullion Blog\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.ukbullion.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#\/schema\/person\/b75a2818471441bc13534ace4965f7f2\",\"name\":\"UKBullion\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.ukbullion.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/81b58785af6a958fc9b5b694ef5069c6?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/81b58785af6a958fc9b5b694ef5069c6?s=96&d=mm&r=g\",\"caption\":\"UKBullion\"},\"description\":\"UKBullion.com are the UK's leading site for buying Gold, Silver, Platinum and Palladium Bullion Bars. 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