Silver climbed to its highest levels since April 2013 in early trading on Wednesday, while gold rose to new record highs above $2,000 an ounce. The move comes after July’s 34% rally, marking silver’s largest monthly gain since December 1979.
Simon Ree has been an active trader and investor since 1992. His book, The Tao of Trading launched this month and has already reached #1 Amazon Best Seller status across five categories.
Gold traded lower early on Thursday, as investor mood was buoyed by the dovish stance of the Federal Reserve. On Wednesday, the Fed committed to leave interest rates near zero and pledged to use all its tools to support an economic recovery.
Charlie Burton’s presentation from the June 2020 Smart Traders Bootcamp.
Gold remained bid in early trading on Friday, underpinned by the prospect of further fiscal stimulus and simmering US/China tensions. Meanwhile, the US Dollar Index fell to its lowest levels since September of 2018.
The greenback rebounded on Thursday, amid fears that a resurgence in the coronavirus could slow a global economic recovery. Meanwhile, US/China tensions remain elevated, with murmurs that a new Cold War is emerging between the superpowers.
Presentation from the June, 2020 Smart Traders Bootcamp.
Gold hovered around the key psychological level of 1,800 in early trading on Tuesday as global coronavirus cases continue to soar and Sino-US disharmony escalated over China’s pursuit of offshore resources in the South China Sea.
The US dollar and other safe haven assets were supported in early trading on Friday amid concerns over the spread of the conoravirus pandemic and a slower than expected economic recovery.