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Treasuries and Bullion Affected by Fed Chair Remarks

Treasuries and Bullion Affected by Fed Chair Remarks

APMEX

3/19/2021 8:46:04 AM

The big news of this week was the Federal Reserve meeting and remarks by chairman Jerome Powell. Powell indicated that the Fed would keep rates low through 2023, and Treasury yields spiked Thursday in the wake of his remarks before settling back down. Gold dipped during the spike but still tracked for a week-over-week gain of around 0.8%, hitting $1,750.67 per ounce by 9 a.m. EDT. Palladium had a very good week — it was on track for a 12% gain but will come slightly short of that.

COVID-19 news is mostly positive in the U.S., with cases at their lowest rate since the pandemic started and a vaccine rollout six weeks ahead of schedule. The U.S. hit 100 million doses administered this week. Meanwhile in Europe, some nations reimposed lockdowns as case numbers trended up and some nations suspended use of the AstraZeneca vaccine after concerns about blood clotting issues.

Joe Biden reaffirmed his desire to change tax code, indicating he wanted to raise taxes on those making above $400,000 and lower the burden on middle-class earners.

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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