Gold Climbs To A More Than 6-year High; Silver At Highest In Over 2 Years
Comment of the Day

August 27 2019

Commentary by Eoin Treacy

Gold Climbs To A More Than 6-year High; Silver At Highest In Over 2 Years

This note from MarketWatch may be of interest.

Gold and silver futures rose on Tuesday (http://www.marketwatch.com/story/gold-higher-but-silver-sets-the-pace-2019-08- 7), with gold settling at a level not seen since 2013, and silver scoring its highest finish in more than two years. Prices for the precious metals got a boost from losses in the U.S. stock market, a drop in Treasury bond yields and a weaker dollar--all of which helped lift the metals' investment appeal. December gold climbed by $14.60, or 1%, to settle at $1,551.80 on Comex. That was the highest most-active contract settlement since April 2013, according to FactSet data. September silver added 51.2 cents, or 2.9%, to end at $18.153 an ounce, the highest since April 2017

Eoin Treacy's view

The continued compression of government bond yields is creating significant demand for gold as a hedge against competitive currency devaluation. That is now starting to be manifested in other precious metals with silver playing catch up and platinum beginning to garner attention.

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