A prudent man foresees evil and hides himself, but the simple pass on and are punished.
- Proverbs 22:3
July 27, 2020 was a historic day for those who follow precious metals. For it was on that day that gold surpassed its old all-time high in U.S. dollars – the old all-time high being $1,921 – to close at $1,965.
That was just thirteen days ago.
Since that time, gold has closed as high as $2,069 and now sits at $2,042, its closing price on Friday, August 7.
To put that in some perspective, once year ago gold closed at $1,495. That was on Friday, August 9, 2019.
Put another way, gold is up over 36% in U.S. dollars in the space of a year. That’s a raging bull market in anyone’s book. Yet, oddly, the mainstream financial press has had relatively little to say about it.
But what about silver? Glad you asked!
After lagging gold for the past 14 months, silver has recently show signs of life. Unlike gold, silver has not yet punched through its old all-time high of $50 set back in 1980, or even its more recent near all-time high of $47 set back in 2011.
Nevertheless, silver has been on a nice run recently and is up over $10 an ounce in the past two months. As of Friday’s close, silver sits at $28.41.
But the purpose of this post is not to throw a lot a boring numbers at you. No. The purpose of this post is to help you understand what these numbers really mean for you.
In short, this is a return to one of the major themes of this blog over the past two years. It is a warning to take cover. Tough times are coming.
Lux Lucet 
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