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Precious Metals Sink as Treasuries Spike

Precious Metals Sink as Treasuries Spike

APMEX

3/8/2021 9:25:25 AM

This week’s big news in Precious Metals is a continued drop as U.S. Treasury bonds continue to rise. Gold has dropped to almost $1,700 per ounce and Silver is just above $25. Stocks rose for much of the early week, but Thursday remarks from Fed chair Jerome Powell pushed them down again. These trends remained steady into Friday morning. 

The COVID-19 stimulus package helmed by Joe Biden made it through the Senate this week, but Republican and moderate Democrat resistance may continue wrangling over the long term. There is a second set of amendments said to be coming later that may change the scope of the package.


COVID-19 vaccinations proceed at high speed, and this week President Biden said that we could see shots available for all adult Americans by the end of May — two months ahead of schedule.


Cabinet appointees for key financial watchdogs came up before Senate committee this week, and the potential head of the SEC indicated a willingness to scrutinize retail trading platforms like Robinhood that may have responsibility in some market fluctuations.

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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