Gold hit another milestone yesterday, touching $2,800 per ounce in dollar terms.
This year's price gains in both gold (+35%) and silver (+41%) have reached eye-popping levels, especially by historical standards for this asset class.
We're seeing a healthy pullback in silver after it nearly reached the $35 level earlier this week.
At present, the white metal is trading around $33.70, down about $1.20 since Tuesday.
While there is lots of uncertainty around next week's election, the U.S. stock market appears unfazed and continues to make new all-time highs.
One factor is certainly the ongoing problem of currency debasement, which tends to cause all asset prices to rise in nominal terms. Treasury Secretary Janet Yellen was asked again about the dollar's tenuous status this week, and a most remarkable thing happened. Check this out!
At Money Metals, we've seen an uptick in retail demand over the past two weeks, particular on the silver side. But premiums remain at rock-bottom levels, and inventory levels are robust.
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