August In Precious Metals, by Steven Cochran of Gainesville Coins.

Welcome to SurvivalBlog’s Precious Metals Month in Review, where we take a look at “the month that was” in precious metals. Each month, we cover the price action of gold and silver, and we examine the “what” and “why” behind those numbers. The July closing price for precious metals were: Gold: $1280 Silver: $20.38 Platinum: $1456 Palladium: $870 August began on a Friday, with non-farm payrolls coming in far below expectations. Gold jumped $15 to regain the losses taken on July 31, while stocks tanked 2%, as investors moved into dollars. On the 5th, gold saw a $20 jump on fears of a Russian invasion of Ukraine, despite the dollar rallying at the same time. Geopolitics were the name of the game in August, as gold rode a crisis-driven rally into the middle of the month until a failed smackdown on the 15th.



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