The current pullback in the precious metals sector is a buying opportunity. Since trading
at a closing high of $2,064 an ounce on August 6, gold bullion has declined 8.34%
as of this writing.1 Gold mining shares have followed suit, declining 9.26% since the
August high.2 It is possible that gold and related mining shares could continue to chop
sideways to lower until the U.S. presidential election results are known and even into
yearend as the implications are sorted out. Whatever the electoral outcome, the path
towards monetary debasement is bipartisan. It is crucial for investors to focus on the
long-term trend and to avoid the distractions of short-term timing considerations.
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Download Gold Q3 2020 Commentary