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Gold and Silver Market Weekly Wrap-Up - Week Ending September 18th, 2020

Gold Silver Market
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Gold closed this week at $1952.96, a $10 increase over last weeks close, as it was revealed that China resumed buying Gold from Switzerland in August in a big way! See chart below courtesy of Forex Live

India's imports are also up over 171%. 

Both nations are notorious for buying Gold on the dip, ahead of significant increases in value.

Here is a chart that shows you the increase in Gold's price. Year over year, we are currently up 30.14%.

 Silver closed this week at $26.87, 2 cents higher than last weeks close. 

Here is a chart that shows you the increase in Silver's price. 

Year over year, we are currently up 50.59%. 

For those who purchased 6 months ago, as I recommended, you are up over 121%!

The reason for buying Gold is simple.

A $10 bill in 1971, had a purchasing value of $1.61.

But...

$10 in Gold (.286 troy ounces) purchased in 1971 would have the purchasing power of almost $565 today. 

That is why Ray Dalio, manager of the largest hedge fund globally, recently said 'cash is trash' and recommended a long term holding in Gold instead. Read More here>>>

Check out this chart for verifiable data. 

 

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All articles are provided as a third party analysis and do not necessarily reflect the explicit views of GSI Exchange and should not be construed as financial advice.

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