Gold Trapped Between Inflation and U.S. Optimism

Gold Trapped Between Inflation and U.S. Optimism


1/15/2021 8:54:25 AM

Gold Trapped by U.S. Optimism & Inflation

Gold has fluctuated all week with no clear direction yet, hitting $1,848.92 by 9 a.m. EST this morning on a quick plunge downwards. Gold’s troubles have not affected Platinum, though, which rose 3% week over week despite a big drop at the end of this week.

Bitcoin dropped by around 20% to start the week. Corn commodity markets hit a six-year high, as the big three crops run into a supply shortage.

COVID-19 numbers flattened out in the U.S. as a whole. J&J’s vaccine was tested and found safe, adding another option for people needing vaccination.

Outgoing President Donald Trump was impeached again. Incoming President Joe Biden unveiled his COVID-19 stimulus package, a $2 trillion affair that incorporates larger stimulus checks, extra unemployment benefits and business relief.

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

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