No Stability in Sight for Precious Metals
APMEX
11/20/2020 8:47:36 AM
No Stability for Precious Metals on the Horizon
Gold prices have been down for a good part of this week, but are up $10 this morning after a very rapid climb. Haven assets have struggled this week to balance news of a COVID-19 vaccine against increasing virus spread worldwide. One metal that has had a solid couple of weeks is Platinum, which has trended upwards for a while.
Stimulus is still stalled, and while Nancy Pelosi and Mitch McConnell are talking, neither has budged from their position. It still looks unlikely that anything will move there soon. Job losses continue but claims are slowing down. Observers worry that some losses have become permanent. Initial claims were up at 742,000 this week.
COVID-19 vaccines are finished and companies are working on emergency authorization now. The Pfizer-BioNTech vaccine may be in use as early as December.
Stocks have had a bad week, though they started up on Monday. Markets’ appetite for risk has been curbed by news of more possible lockdowns due to COVID-19 around the world.
APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies
