Gold Spot

Gold scaled a near two-week peak on Thursday after weak economic data from the United States raised expectations for another interest rate cut by the Federal Reserve, while platinum jumped to its highest level in more than three weeks.

Technical Resistance: 1522/1535

Technical support: 1480/1461


U.K. Prime Minister Boris Johnson’s call for an election

PM Boris Johnson seeking Parliament to approve the election for Dec. 12 in an effort to break the country’s deadlock over its exit from the European Union. The British pound fell versus the dollar and the euro and cast more uncertainties over Britain’s divorce from the European Union.


U.S. initial jobless claims came in lower

The number of Americans filing applications for unemployment benefits unexpectedly fell last week, pointing to a still-tight jobs market even as hiring and economic growth has slowed. Initial claims for state unemployment benefits declined 6,000 to a seasonally adjusted 212,000 for the week ended Oct. 19, the Labor Department said on Thursday.


ECB keeps policy unchanged but door stays open to more stimulus

The European Central Bank left policy unchanged as expected on Thursday but kept the door open to even more stimulus as the euro zone economy continues to suffer from the fallout of broader global turmoil.


Source: Bloomberg, CNBC, Reuters

Dear All Customers,

We hope that all our patrons have been in good health especially during these troubling times of Covid 19. 1Stop Gold will be temporarily halting operations to undergo major construction to better serve the needs of our patrons. During this time of construction, we will not be accepting any orders for purchases. However, customers that are interested in selling any of their previous PAMP bars purchases can contact our office at 03 - 2172 8680 to arrange the necessary. Thank you & we hope that you and your family stay safe and are in good health.