COMMODITY TRADE MANTRA: Bull Market in Gold and Silver is not the usual Garden-Variety one, but the BIGGEST Mania in History
By: Christine von Liederbach
September 4, 2020
Article in Commodity Trade Mantra
This Bull Market in Gold and Silver – The BIGGEST Mania in History
Gold and Silver perform best in difficult times. This crisis is powering both towards a historic era. And this Bull Market is already well underway.
Gold is on a tear this year
. For the first time in history, it topped $2,000 per ounce and hit an all-time high. So far, it’s risen about 27% this year.
Last week was a tough one for gold and silver investors. Both metals saw significant corrections. This led some people to declare the gold and silver bull market dead. But historically, big corrections have been a normal feature of gold bull runs
. Gold and silver got pummeled last Tuesday. The price of gold dropped more than 5%, falling far below the $2,000 level. It was the worst single-day rout in seven years. Gold continued to fall in Asian trading Wednesday morning and briefly dropped below $1,900 before clawing back later in the session. Silver also had a precipitous fall, diving some 13%.
The selloff was the result of a one-two punch that started with the announcement that Russia has developed a successful coronavirus vaccine
and accelerated when US producer price data (PPI) came out hotter than expected, charting the biggest increase in over a year-and-a-half.
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