Gold Might Rest in August but Come September it’ll Get Schooled Again

Gold might find a brief respite appropriately coinciding with the popular vacation month of August, but come September it should get schooled again. Gold prices rose Friday, as the July Fed meeting is behind us now, and as the dollar gave back its gains of Thursday so too did gold regain its lost ground. With the focus off the Fed now, and with gold trading around some support, it could stabilize or even rise a bit in August. However, as September nears and the ruckus about the Federal Reserve’s monetary policy plans is revived, the dollar should again climb higher and gold drive lower. See more of this report on the outlook for gold.

Precious Metal Relative	Friday 7/31	Last 3 Mos.	TTM
SPDR Gold Trust (NYSE: GLD)	+0.6%	-7.2%	-15.6%
iShares Gold Trust (NYSE: IAU)	+0.7%	-7.5%	-14.8%
ETFS Physical Swiss Gold Trust (NYSE: SGOL)	+0.6%	-7.6%	-14.9%
iShares Silver Trust (NYSE: SLV)	-0.1%	-8.8%	-28.1%
ETFS Physical Silver Trust (NYSE: SIVR)	-0.2%	-9.2%	-27.7%
Market Vectors Gold Miners (NYSE: GDX)	+2.2%	-31.6%	-46.6%
Market Vectors Junior Gold Miners (NYSE: GDXJ)	+1.9%	-22.5%	-53.2%
Direxion Daily Gold Miners Bull 3X (NYSE: NUGT)	+5.9%	-72.3%	-92.1%
Goldcorp (NYSE: GG)	+5.1%	-27.6%	-49.2%
Randgold Resources (Nasdaq: GOLD)	+2.3%	-20.3%	-29.1%
Barrick Gold (NYSE: ABX)	+0.1%	-45.5%	-60.1%
Silver Wheaton (NYSE: SLW)	-0.2%	-35.0%	-49.3%
Coeur Mining (NYSE: CDE)	+2.3%	-32.6%	-53.2%
Silvercorp Metals (NYSE: SVM)	+2.6%	-35.7%	-56.7%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only.