It's Friday, August 14, 2020, just after market closed in New York. This is the Real Vision Daily Briefing. I'm Ash Bennington in

New York joined shortly by our CEO and founder Raal Powell. But first, Jack Farley with a

taste of Precious Medals Week.

Thanks, Ash.

U.S. retail sales numbers came in today, and sales in July increased 1.2% from June,

coming in well below the forecast of 1.9%.

What I noticed was the wide dispersion between economists estimates,

showing there really is no consensus view.

Looking at total sales, remember that's the absolute numbers, a percentage change, a V-shaped pattern has

emerged. But will it be a square root recovery? In other words, have we been borrowing growth and

economic activity from the future as people cooped up in their homes are splurging,

it really hinges on the fiscal picture going forward and the progress of the virus.

In other news, are rising yields putting pressure on gold?

Nominal yields have risen as the Treasury has undergone over $4 trillion worth of issuance.

The question I'm wondering is, is this indigestion in the bond market the reason for the sell-off in gold this past week, or is there some other root cause?

And what does the future hold for gold and silver, for that matter?

Well, if you're interested in that question, stay tuned because next week on Real Vision Vision we're going to be doing a deep dive into precious metals.

That's right for the entire week we're embarking on a journey to discover what's going on with gold and

silver what are the challenges and opportunities in that space?

What are the fundamental drivers of the price action?

And where are we headed from here?

We're starting off strong on Monday with Lynn Alden and Ron William.

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