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 JULY?
Silver had another fairly volatile month, much as it has for the better part of 2024. The swings back and forth for prices have become increasingly frequent since the second quarter of the year began.
During July silver futures traded as low as $27.75/oz and as high as $31.43/oz, a significant spread of over 13%. Spot silver opened the month around $29.50/oz and concluded it 55 cents lower at $28.95.
In between, the argent metal rallied to its high point on July 11th. It held above $30/oz for a week before major price corrections for both silver and gold from July 17th–19th. Year-to-date silver is still up an impressive 31.2%.
Gold sank more than $100 over the course of the following week of trading after peaking around $2,480/oz. The gold price had climbed from its low point on July 1st of $2,327/oz and never fell below the $2,360 level even after the sharp sell-off, closing the month 5.2% higher at $2,448/oz.Continue reading“July, 2024 in Precious Metals, by Everett Millman”
