by Paul Wong
August saw gold bullion breakout above $2,000 to reach a new all-time high before pulling back. Gold bullion1 was up 29.69% YTD through August 31, 2020, and 29.43% YOY. Both silver bullion and gold mining equities reached multi-year highs in August. Gold mining equities (SGDM)2 gained 44.71% YTD, and 41.87% YOY as of August 31. This compares to 9.74% YTD and 21.94% YOY returns for the S&P 500 TR Index.6 Silver bullion7 posted outsized gains in August and was up 57.64% YTD and 53.15% YOY as of August 31.