Gold Jumps $60 in 3 Weeks, Silver Soars 10%

Even though equity markets are near record highs, gold is on track to outperform stocks for the first time since 2011. This probably comes as a surprise given the fact that stocks have soared to record highs since President Trump got elected in November. The stock market hasn't had a significant pullback in nearly twenty months, leading many investors to believe that when the correction does come, it will be swift and powerful.

 

Amplifying investor concerns is the upcoming debate to (once again) raise the US debt ceiling, an event that has strained markets in years past. Add to this the escalating geopolitical situation in North Korea. Just last night they launched a ballistic missile right over Japan, further increasing tensions across the region. It's evident that they have little interest in keeping the peace.

 

Precious Metals always thrive on uncertainty, and there is without question an abundance of it, here and around the globe.  This is evidenced by the fact that over the past three weeks alone gold has surged $60 an ounce to $1,320 and silver has risen 10% over the same time frame. 

 

Metals remain well below their all-time highs and Fall is typically the time that precious metals rise on a historical basis.