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Platinum Up, Other Metals Hold Gains

Platinum Up, Other Metals Hold Gains

APMEX

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.

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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PLATINUM