Gold Down, Platinum Up
2/19/2021 8:39:26 AM
Gold is Down While Platinum is Up
Platinum continues its good year, cracking $1,300 per ounce this week and settling above it. Gold is down to its lowest level since July.
Industrial metal demand is skyrocketing, driving prices for any metals with commercial applications. Base metals benefit significantly from this, but so do important precious metals like Silver and Platinum.
The United States is dealing with a massive network of winter storms that are slowing down deliveries, upending energy markets and causing blackouts. Texas in particular has been hit hard, with millions spending days without power in freezing temperatures.
COVID-19 numbers worldwide continue to drop as vaccines roll out. Pfizer and Moderna both pledged to boost sales and production for vaccines within the U.S.
The retail trading frenzy of a few weeks ago resulted in a hearing between some tech stakeholders and Wall Street heavy hitters on Capitol Hill.