Loading ...I’m glad you appreciated the value of that news. They saw a lower than normal price in August and took advantage. $1700-$1750 is a lot cheaper than the prior $1900 Gold. The Dollar has been climbing, opposite Gold dropping. I went thru this in yesterday’s post.
As for Gold and PMs dragging feet, it fits the typical summer doldrums and sell in May and go away. June was the sudden drop. Everybody was getting hysterical about inflation. Big shots were demanding the Fed needed too take action, and in China they were some how inhibiting investing in the important industrial metals possibly inhibiting our Monetary Metal Gold in sympathy.
Gold actually made a new 245 year all time high from 1776 last year in August. Or a new 20 year high going back to the March 200 bottom at $250/oz I think it got. Or a new 10 year high above the $1850 high of 2011 when Gold hit $2000 last August.
Basically a lot of wild cards, anything can happen. We have the insurance.