Platinum Up, Other Metals Hold Gains
2/12/2021 9:07:11 AM
Gold was down to $1,825.46 this morning, but the metal has mostly held on this week after a rough patch. It still remains above the $1,800 mark. Silver has stayed above $27. Platinum has been a big gainer over the year so far, reaching over $1,250 on expectations of increased automotive and green demand.
Stocks have been on a long bull run, and some analysts are warning that the end of the run may be soon. U.S. oil inventory went down, and though the commodity continues to be fragile, this could indicate a rise in demand.
Fed chair Jerome Powell said midweek that he thought inflation would remain under control even with more economic stimulus. Powell and Treasury Secretary Janet Yellen are set to meet with the G-7 later today. The House of Representatives approved the Biden stimulus package on Friday, though it has not yet been signed.
Home prices have passed their 2005 high water mark as low interest rates make mortgages appealing.