Welcome to SurvivalBlog’s Precious Metals Month in Review, where we take a look at “the month that was” in precious metals. Each month, we cover gold’s performance and silver’s performance and examine the factors that affected the metal prices.
WHAT DID GOLD AND SILVER DO IN OCTOBER?
Following a September in which gold rose 5.2% and silver rallied 7.9%, the precious metals moved steadily higher yet again in October. Metals prices have risen in 11 of the last 13 months.
While gold fluctuated up and down for the first two weeks of the month, spot silver started off strong with four consecutive trading sessions in positive territory. This lifted the argent metal just shy of $32 per troy ounce. Silver then spent the following week giving back all of its gains.
Meanwhile, the gold market really started heating up at mid-month. From Oct. 15th through Oct. 18th, spot gold made successive new all-time highs. Friday the 18th was also one of the best trading days for silver in recent memory. Prices surged over $2, a single-day increase of 6.4%, to breach the $33/oz level.Continue reading“October, 2024 in Precious Metals, by Everett Millman”