Gold and silver were the talking point this week, as they both powered through key points, gold $2,000, and silver $25.
Sadly the rally petered out on Friday, with both metals sliding back after a strong run during the week. Nothing goes up in a straight line of course, so a pause and correction is perfectly healthy.
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Mining News – Sunday Roundup – August 9th 2020
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Sadly the rally petered out on Friday, with both metals sliding back after a strong run during the week. Nothing goes up in a straight line of course, so a pause and correction is perfectly healthy.
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Gold recorded a new (nominal) all time high, 2074.1 before ending the week on $2031, still a great week by anyone’s standards. My prediction last week that $2,000 would be breached came to pass a little sooner than I expected..
Silver is still on a charge, and after starting the week at $24, rose as high as $29.80 before pulling back to a still very credible $28.
.All in all one unforgettable week for gold and silver bugs.
Stocks
Coking coal
Prices continue to be subdued, but rose a few dollars this week, with the Dalian Futures price around $140.
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Metal prices
- Gold………………$1931
- Silver…………….$28.23
- Copper…………..$2.93
- Nickel……………$6.52
- Zinc………………$1.08
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