The haven metals traded at moderately low prices this week. Risk appetite took an upswing especially late in the week as indicated by global stocks markets that saw an upswing at the end of the trading week.

Although daily equities market volatility picked up, it couldn’t quite shake the marketplace. Keeping in mind, it is still early September we may potentially witness rough waters in the stock and financial markets. Both gold and silver markets went back and forth during the week without setting new highs.

Monday 7^th September 2020

Gold traded at a slow $1929.11 USD ($2650.37 AUD) at the start of the week whereas silver settled at $26.88 USD ($36.93 AUD).

Tuesday 8^th September 2020

After a poor start at the beginning of the week, gold moved up to $1930.55 USD ($2652.35 AUD) – a $1.44 gain. Silver, on the other hand, closed the day at $26.53 USD ($36.45 AUD) – a 1.3% downturn.

Wednesday 9^th September 2020

Both precious metals picked the pace 0n Wednesday. Gold recorded a 0.83% upswing trading at $1946.57 USD ($2674.36 AUD). Silver, too, posted a 1.7% increase to close the day at $26.98 USD ($37.07 AUD).

Thursday 10^th September 2020

Wednesday’s trend didn’t last long as both metals saw a drop in their prices on Thursday. Gold fell by $1.34 to $1945.23 USD ($2672.51 AUD). Silver traded at $26.89 USD ($36.94 AUD) at the end of the day – a 0.33% decline.

Friday 11^th September 2020

Silver tried to gain ground ahead of the weekend but only managed to settle at $26.73 USD ($36.72 AUD) after taking a o.6% drop. Gold price also went down by 0.2% to $1941.51 USD ($2667.40 AUD).

Sam Grant

https://www.linkedin.com/in/sammie-grant/