Gold settles down after hectic last week, silver continues to lead way higher

(USAGOLD – 8/31/2020) –  Gold looks to be settling down some this morning after last week’s hectic, back and forth trading. Silver, though, continues to lead the way higher – up 42¢ this morning at $28 even. Gold is trading at $1968 up $2 on the day. The biggest news over the weekend was the Ohio Police and Fire Pension Fund’s decision to allocate 5% of its nearly $16 billion in assets to gold [LINK]. Negative real yields, inflation-deflation concerns, and extraordinary monetary and fiscal stimulus top a growing list of concerns among money managers and private investors who, in turn, have stepped-up precious metals allocations for asset preservation purposes. “The bottom line,” says Brien Lundin in the latest edition of Gold Newsletter, “is that there have never been so many powerful factors arguing for much higher gold and silver prices, and for so many years into the future.”

 Chart[s] of the Day

Gold, silver and the DJIA – Year to Date

overlay chart showing gold siver Dow Jones price performance year to date through 8-28-20

Chart courtesy of TradingView.com • • • Click to enlarge.

Gold, silver and the DJIA – One Year

overlay chart showing gold silver Dow Jones performance over past 12 months through 8-28-20

Chart courtesy of TradingView.com • • • Click to enlarge.

Chart note:  As of last Friday (8/28/2020), gold is up 27.6% over the past 12 months. Silver now outperforming gold on a 12-month basis is up 49.88% and the Dow Jones Industrial Average is up 10.05%.  Year to date, gold is up 28.49%. Silver is up 52.68% and the DJIA is down .74%. 

 

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