Gold and silver, significant price rise, what gives?

[cheddar]

Normally a fairly static commodity and recently living deep in the shadow of crypto currency, this year's serious price rises have suprised me, I take a look once a week or so and they keep going up, anyone know what's going on?

[greygoose]

cheddar said:

Normally a fairly static commodity and recently living deep in the shadow of crypto currency, this year's serious price rises have suprised me, I take a look once a week or so and they keep going up, anyone know what's going on?

Economic uncertainty with ongoing trade war between USA and China, UK leaving EU, Germany heading into recession maybe, so demand goes up for gold as a traditional safe haven.

[Murph7355]

cheddar said:

Normally a fairly static commodity and recently living deep in the shadow of crypto currency, this year's serious price rises have suprised me, I take a look once a week or so and they keep going up, anyone know what's going on?

It's far from static. It probably only seems that way if you're buried in crypto currency

[carl_w]

Was surprised to discover that gold now costs more than platinum.

[Condi]

cheddar said:

Normally a fairly static commodity and recently living deep in the shadow of crypto currency, this year's serious price rises have suprised me, I take a look once a week or so and they keep going up, anyone know what's going on?

Not usually that static, but you have to question the judgement or knowledge of anyone who thinks gold is 'living deep in the shadow of crypto currency'! Just because its has been out the headlines doesn't mean it has been forgotten about, the sensible money always comes back to gold in times of uncertainty, and if you compare the gold price with that of global stock prices the relationship is very much still there.

5 year chart;

[cardigankid]

Yes, but just bear in mind that if you weigh in at a high, it will ultimately come back to a median position.

[irc]

Currency crisis means gold goes up.

https://www.telegraph.co.uk/business/2019/08/05/cu...

[BlackLabel]

Those holding gold have had a good 12 months.

[cheddar]

BlackLabel said:

Those holding gold have had a good 12 months.

Silver too, up 34% in 12 months and 10% gain this month alone. I still think it's priced very low vs gold.

[Vanden Saab]

cheddar said:

BlackLabel said:

Those holding gold have had a good 12 months.

Silver too, up 34% in 12 months and 10% gain this month alone. I still think it's priced very low vs gold.

Lets hope so as I bought a *bit thinking the same a couple of years ago......

[BlackLabel]

cheddar said:

Silver too, up 34% in 12 months and 10% gain this month alone. I still think it's priced very low vs gold.

Yep Silver has done well too however for British buyers a significant chunk of that 34% gain will be taken up by the VAT they paid when buying.