Bonds Rise, Gold Tanks
2/26/2021 9:14:58 AM
Gold has dropped well below the $1,800 per ounce mark as bond yields rise and investors push for interest-bearing assets. Gold and Silver are both bearing the brunt of the change, though PGMs are still up.
The U.S. stimulus proposal advanced by Joe Biden and the Democrats looks likely to pass Congress. The only change may be that the minimum wage hike Biden proposed may need to go through a separate approval process, as it is not eligible for the fast-track process used for the rest of the bill.
COVID-19 deaths are headed down in the U.S. and vaccine inventories are ahead of schedule. 130 million doses should be available by March.
Retail stock traders driven by Reddit and other social platforms are jumping back into stocks like GameStop and AMC.