Advisor Metals Precious Metals Market Update for August 16, 2024 - Gold Hits Record High

August 16, 2024

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Gold and silver have resumed their upward price movements again this week. And…buy the dip wins again!

Last week we wrote that the gold/ silver ratio was 89.45 and at that level silver usually makes an upward move. So far since that writing and as of this writing silver is up 3.3%. Gold is up 2.6%. The Dow Jones Industrial Average (DOW) is up 2.7%. The metals and the DOW both going up is a great portfolio bonus since they usually go opposite each other.

The significant economic reports this week were this morning’s housing starts and building permits numbers which were lower than expected buoying the prices of both gold and silver.

Until next time………………….

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