COVID, Congress and the Crown: A Week of Deadlock
APMEX
12/11/2020 8:34:45 AM
A Week of Deadlock
This week saw Gold rise slightly to start before tapering off later in the week. Markets are dealing with many different inputs, as deadlock in multiple areas of the world continues to take its toll and small pieces of news cause fluctuations. Platinum fell off its peak from the end of last week.
COVID-19 cases in the U.S. continue to climb, as do deaths. Optimism over stimulus in Congress has withered as the parties involved continue to wrangle over the details. A group of bipartisan lawmakers, Mitch McConnell, Nancy Pelosi, and Steve Mnuchin have all presented their own plans, and at the moment none seem like they are ready to be passed. Congress is passing a stopgap funding bill to avoid a shutdown while they negotiate the budget. In the meantime, jobless claims in the U.S. hit a three-month high.
The E.U. and U.K. continue to negotiate for a Brexit deal, with trade being the major sticking point left to overcome. Prime Minister Boris Johnson of the U.K. continues to warn that Britain will leave either way, with or without a deal.
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