Gold price is hitting a record high for the first time since 2013. Also silver finally start to offer near-term torque in a precious-positive environment, as prices was up 8.5% in July.
By the end of July, the Fed cut interest rates by 25 bps for the first time since 2008, and almost 20 central banks announced the rates cutting since this year, the global easing cycle has been started. US equity markets were volatile, European markets hit on hard Brexit fears, meanwhile, Asian equities weaker across the board as concerns on the HK protests worried. Gold demand in the first half of 2019 was its best in three years, climbing to 2,181.7 tonnes, largely due to increased appetite for gold-backed ETFs as well as record buying by central banks.
The Gold industry is in much better shape today than in 2016 with significantly better balance sheets due to the new CEOs were focused on capital discipline and higher returns. Most large companies are showing a rising trend in ROCE.