Waiting for Helicopter Ben

Gold and Silver, daily, August 2012

Europe on the edge of recession, both Australia and Hong Kong at risk as is The United States. Both gold and silver soared during August on hopes of September’s FOMC meeting. The chart above shows gold ($GOLD, black line) and silver ($SILVER, red line) daily during the month of August, 2012, up 4.59% and 13.41% respectively. But how impressive were these moves? The chart below shows monthly changes in the spot price of gold from the period 1982 to 2012. I’m long both metals but I think the markets may have gotten a little ahead of themselves, simply because we’re not really sure what The Fed might do.

Gold, August % change, 1982 to 2012

Gold, August % change, 1982 to 2012

Comments are closed.