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.   

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.   

Gold rose by more than 2% last week, even while oil fell by more than 5%. Gold rose from $1094 in the London setting last Monday (August 10) to $1119 this Monday, August 17 while gold fell from $45 to nearly $42 per barrel.  Gold got a double boost last week:

Gold rose by more than 2% last week, even while oil fell by more than 5%. Gold rose from $1094 in the London setting last Monday (August 10) to $1119 this Monday, August 17 while gold fell from $45 to nearly $42 per barrel.  Gold got a double boost last week:

Gold rose back above $1100 Monday morning, rising $15 per ounce in about two hours (10 am to noon, Eastern time) from $1,095 to nearly $1,110 after trading below $1,100 for the previous two weeks.  Silver rose from $14.90 to $15.40 in the same two hours. The proximate cause is that Federal Reserve Vice Chairman Stanley Fischer said that the Fed won’t likely raise rates until inflation has returned to normal.

Gold rose back above $1100 Monday morning, rising $15 per ounce in about two hours (10 am to noon, Eastern time) from $1,095 to nearly $1,110 after trading below $1,100 for the previous two weeks.  Silver rose from $14.90 to $15.40 in the same two hours. The proximate cause is that Federal Reserve Vice Chairman Stanley Fischer said that the Fed won’t likely raise rates until inflation has returned to normal.

Gold rose back above $1100 Monday morning, rising $15 per ounce in about two hours (10 am to noon, Eastern time) from $1,095 to nearly $1,110 after trading below $1,100 for the previous two weeks.  Silver rose from $14.90 to $15.40 in the same two hours. The proximate cause is that Federal Reserve Vice Chairman Stanley Fischer said that the Fed won’t likely raise rates until inflation has returned to normal.

Gold reached a 5-1/2 year low on the London morning gold setting last Friday, July 31, at $1080.05 per ounce.  However, the afternoon setting was $18.35 higher (+1.7%), at $1098.40.  In New York, gold rose from $1080 at 8:00am Friday to $1102 at 9:30 before consolidating at $1095 over the weekend.