The sell-off in precious metals which started in late July continued this week, but its momentum slowed with silver even showing a modest gain on the week so far. In early European trading, gold was $1892, having traded down to $1885 yesterday, for a net fall of $19 on the week. Silver was $22.78 having traded down to $22.30 on Tuesday but is up just 10 cents from last Friday’s close. On Comex, turnover in the gold contract was subdued, but in silver it was moderate to healthy.
To date, gold is up nearly 10% in 2017, but as Ron Paul pointed out in his recent Market Update video, most people aren’t paying much attention.
Why not?
Because a lot of other things such as the stock market and cryptocurrencies are going up faster. Nevertheless, Paul thinks there are good reasons to believe what he calls the “third bull market” in gold has started.
