Precious Metals Update 8/16/2024

Gold & silver resume their upward price movements again this week. And… buy the dip wins again!

Bullion.Directory precious metals analysis 16 August, 2024
By Ira Bershatsky
Managing Member at Advisor Metals

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…

Ira Bershatsky

Ira Bershatsky is founder and Managing Member at Advisor Metals, a boutique Gold IRA Specialist, uniquely qualified in the industry and focused on extraordinary customer care without high cost premiums.

Enjoying 44 years in the business, Ira is the only person in the physical precious metals industry with a Commodities Futures Trading Commission (CFTC) Federal registration, meaning that as an advisor, everything Ira says to his clients is factual and fully transparent, without the typical sales pitch or all too common hype.

This article was originally published here

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