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UGLDF - Miners Remain Undervalued Despite Gold's Run
VS 3X GOLD
Gold Reaches Another All-Time High
The strong gains of July carried on to early August. Gold reached an all-time high of $2,070 per ounce on August 6 amid U.S. dollar weakness and new lows in treasury yields. It then saw a sharp reversal and fell $207 over the following three trading days to an intraday low of $1,863 on August 12. The reversal was triggered by dollar strength, a move higher in interest rates and news of a Russian COVID-19 vaccine. Gold had become overbought in the past month, trading well above trend, making it