Gold rose another $5 last week.  First, gold dipped to $1123 in the middle of the week, but then it closed strong, including a one-hour rise from $1,130 to $1,150 on Thursday morning from 9:00 to 10:00 am Eastern time.  This week, gold opened lower at $1,132.  There is no clear trend yet, up or down, but gold remains comfortable above its $1,080 low from last July 24, while the stock market sharply declined (by 12%) from late May through late August.  Year-to-date, gold and silver are still narrowly beating stocks.

Gold rose another $5 last week.  First, gold dipped to $1123 in the middle of the week, but then it closed strong, including a one-hour rise from $1,130 to $1,150 on Thursday morning from 9:00 to 10:00 am Eastern time.  This week, gold opened lower at $1,132.  There is no clear trend yet, up or down, but gold remains comfortable above its $1,080 low from last July 24, while the stock market sharply declined (by 12%) from late May through late August.  Year-to-date, gold and silver are still narrowly beating stocks.

Gold rose another $5 last week.  First, gold dipped to $1123 in the middle of the week, but then it closed strong, including a one-hour rise from $1,130 to $1,150 on Thursday morning from 9:00 to 10:00 am Eastern time.  This week, gold opened lower at $1,132.  There is no clear trend yet, up or down, but gold remains comfortable above its $1,080 low from last July 24, while the stock market sharply declined (by 12%) from late May through late August.  Year-to-date, gold and silver are still narrowly beating stocks.

Gold shot up to a four-week high after the Federal Reserve decided not to raise interest rates – once again!  Gold reached its highest close since August 25, and silver rose above $15 for the first time since August 21. The key short-term interest rates the Fed controls have now been in a zero-to-0.25% range for nearly seven years, an unprecedented time of super-low interest rates.  Gold has been depressed this year since the media keep telling us that the Fed will raise rates and “gold offers no interest,” yet the Fed keeps failing to act, and gold has historically performed very well when the Fed raised interest rates in the past.

Gold is holding up well in advance of the Federal Reserve’s meeting this week. For several months, pundits expected the Fed to raise rates at its September 16-17 meeting, but now most of those pundits have switched camp to predict another postponement of rate increases.

Gold fell back to $1123 last week, but it is still outperforming stocks and most other commodities for the first nine months of 2015.

Gold rose $35 in August, a rise of more than 3%, while the Dow Jones industrial index fell by 6.6%. In addition, the U.S. dollar fell about 1% in August. 

Gold rose $35 in August, a rise of more than 3%, while the Dow Jones industrial index fell by 6.6%. In addition, the U.S. dollar fell about 1% in August. 

Gold is basically the only commodity that is rising during a period of general decline in commodities and a sell-off in global stock markets, led by a historical “bubble” popping in China.  Oil fell below $38 per barrel on Monday, even as gold hit $1166 on the Monday pm London fix.  Silver fell below $15 per ounce, even as gold was rising, underlining gold’s role as a global crisis hedge. Also on Monday morning, the Dow Jones index was down 1,089 points on the opening! Even though it recovered by day’s end, the Dow was down over 10% from its May peak, signaling the first 10% stock market correction since 2011.   

Gold is basically the only commodity that is rising during a period of general decline in commodities and a sell-off in global stock markets, led by a historical “bubble” popping in China.  Oil fell below $38 per barrel on Monday, even as gold hit $1166 on the Monday pm London fix.  Silver fell below $15 per ounce, even as gold was rising, underlining gold’s role as a global crisis hedge. Also on Monday morning, the Dow Jones index was down 1,089 points on the opening! Even though it recovered by day’s end, the Dow was down over 10% from its May peak, signaling the first 10% stock market correction since 2011.