This was the best performing asset in August and 2020 YTD

Zero Hedge/Tyler Durden

photo of three silver bars“As Deutsche Bank’s Henry Allen writes, in terms of the highlights it wasn’t tech but silver that was the top performing asset in August for the 2nd month in a row, thanks to a +15.4% increase. That move cements its existing YTD lead, having now risen by +57.6% since the start of the year, in a move that outpaces even the NASDAQ. Matters weren’t so positive for gold though, as in spite of rising above $2,000/oz at the start of the month for the first time ever, the precious metal ended up losing ground to close -0.4% lower. Nevertheless, commodities generally performed strongly, with WTI (+5.8%), Brent crude (+4.6%) and copper  (+6.0%) all seeing solid advances, even though oil remains one of the worst performers on a YTD basis, with Brent (-31.4%) and WTI (-30.2%) still well below their pre-Covid levels.”

USAGOLD note:   An interesting overview posted at ZeroHedge based on a Deutsche Bank report ……


Repost from 9-1-2020

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