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Gold Loses Out to Dollar

Gold Loses Out to Dollar

APMEX

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.

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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