Money

Sterling sinks, FTSE 100 rises, gold up

Sterling

The value of sterling slipped Wednesday 3rd. July 2019 after the Bank of England warned that a global trade war and a no-deal Brexit were growing risks to the UK’s economy and may require a response.

FTSE 100

The FTSE pushed up to touch 7620 in intra-day trading as investors enjoyed the idea of a possible Bank of England rate cut.

Investors will closely watch the news for any hint of an imminent rate cut as they combine this news with the gloomy service sector data released earlier today (3rd. July 2019) and with the dire manufacturing data released yesterday and with talk of a global economic slowdown.

Gold up

Gold price moved back up above $1,400 to touch $1,437 in intraday trading on 3rd. July 2019 at 10:30 BST – only to slip back again since.

Update

Gold price at 14:45 on 3rd July 2019: $1,414

Gold closed at: 1418

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