Daily Gold Market Report

Gold level this morning as the summer grind continues
Market Herald’s Robertson sees gold in a win-win situation 

(USAGOLD – 8/14/2023) – Gold is level this morning at $1916.50 in subdued, featureless trading. Silver is off 2¢ at $22.76. The slow summer grind continues. It has been a perplexing time for gold, with many of the verities that have propelled the price in the past stood on their head, but Market Herald’s Coreen Robertson looks at the probabilities ahead and sees gold in a win-win situation.

“It maybe doesn’t like it, maybe isn’t the most exciting, but [gold] does well in that unicorn scenario of growth with low inflation,” she says in an interview recently posted at Stockhouse. “The other option is that we get a recession right now. So the two sides of the spectrum for a while, we’ll just continue down the middle, which is where we’ve been forever, not knowing which way we’re going to go. But when we do eventually choose a path, it’s either going to be the unicorn or it’s going to be the recession. And as we discussed before, gold very reliably does well in a recession. So I kind of think that no matter what happens, gold is well supported either as part of a broad metals bull market or because investors buy it in a recession.”

Average Gold Price
bar chart showing the average annual price of gold 1971 to November 2022
Chart by USAGOLD • • • Data source: Macrotrends.net

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