Gold Has a Steady Week
1/22/2021 8:48:58 AM
Gold went up to around $1,875 midweek, but much of this week’s trading has been around or just over the $1,850 mark. Silver and Platinum followed the same trend.
The big news of this week was the inauguration of new U.S. president Joe Biden. Biden’s administration is likely to be more stimulus-friendly than the outgoing Trump administration. Treasury Secretary Janet Yellen has already indicated a willingness to spend.
Stocks have had a good week, but dropped today on news of more COVID-19 deaths and lockdowns.
The Pfizer/BioNTech vaccine for COVID-19 was tested against the more virulent U.K. strain and was found to work. This is encouraging news for global spread, despite deaths being up.
Bitcoin had its long bull run halted this week as it lost around 11% of its value on Thursday. Crypto remains strong, but speculation has driven prices higher than they would be normally.