Gold Suffers Over the Week
3/12/2021 8:42:40 AM
Gold hit $1,711.52 by 9 a.m. EST. It’s been a bad week for Precious Metals in general, and in particular for Gold. It rallied through Thursday but lost much of its gain for the week today.
Markets have been up and down this week, but they’ve mostly trended up. Monday was a rough day for tech stocks and other growth stocks, which pushed the Nasdaq down. It responded with a massive day on Tuesday. Stocks continue their trend up.
Joe Biden’s COVID-19 stimulus bill has made it through all the legislative roadblocks to his desk, and checks are to be sent out to Americans as fast as possible.
Jobless data for the week was much rosier than anticipated, fueling a market rise to end the week and pushing Gold back down.