Gold Loses Out to Dollar
3/26/2021 9:13:29 AM
Gold hit $1,734.55 by 9 a.m. EDT, on track for its first weekly dip in 3 weeks. It has dropped against the dollar. Gold and Silver have been range-bound for the week, not moving much past support.
Global trade is dealing with a shock as a container ship grounded in the Suez Canal on Wednesday and has not yet been removed. It is costing roughly $400 million per hour to the global economy.
Chinese companies took a hit on U.S. exchanges due to threats that they might be removed from said exchanges.
Joe Biden had his first big news conference, and he mentioned wanting to administer 200 million vaccine doses by the end of April. China questions were front and center but Biden did not indicate a direction.