Gold Has a Steady Week

Gold Has a Steady Week


1/22/2021 8:48:58 AM

Gold Experiences a Calm Week

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.

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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