Silver Up and Away Like a Rocket Ship to Mars; Precious Metals Among 2020 Top Performing Assets

For stocks, it was SSDD (Same Stuff, Different Day) After all, it was a Monday and it's a Wall Street imperative that the week starts off with gains.

Pushing the phony COVID-19 narrative was news was Oxford University and AstraZeneca seeing positive results in a clinical trial of its developing COVID vaccine, with immune responses triggered and few side effects other than nausea, headaches, muscle ache, chills and fever. As usual, the news was released right before the opening bell, to ensure maximum fake enthusiasm.

While the Dow and NYSE were flat, the NASDAQ rose 2.5 percent and the S&P closed at a five-month high, but still 135 points shy of it's all-time best of 3,386.15 from February 19.

Not needing any kind of narrative other than the fact that it has been used as money for more than 5,000 years, has incredible conductive properties, and a slew of industrial uses, silver continued its rally, popping above 20 for the first time in four years.

Depending on which futures contract one chooses to quote, gold's shiny cousin is trading at either $20.43 per ounce (August) or $20.85 (September). What's pushing silver and gold higher are a variety of factors, including a growing distaste for fiat currencies, the immutability of precious metals, massive inflows to silver and gold ETFs, or the rumor that JP Morgan was recently told by the Federal Reserve to close out its short positions in silver.

Taken together or separately, gold and silver are among the top performing assets for 2020. Gold ended 2019 at $1514.75 and was quoted at $1815.65 Monday. Silver ended last year at $18.04 and it's gain to $20.43 constitutes a 13 percent gain. Gold's rise in 2020 is just under 20 percent.

It is estimated that fewer than five percent of the world's population has any gold or silver in their possession, despite the fact that all central banks hold tons of gold as a Tier 1 asset.

The days of fiat currency are numbered and the only replacement that will fill the needs of a new era are currencies backed by either gold, silver, or both.

Here's goldsilver.com's Mike Maloney with his thoughts on silver's meteoric rise:



At the Close, Monday, July 20, 2020:
Dow: 26,680.87, +8.97 (+0.03%)
NASDAQ: 10,767.09, +263.89 (+2.51%)
S&P 500: 3,251.84, +27.11 (+0.84%)
NYSE: 12,392.98, -9.72 (-0.08%)