Gold Rises, Dollar Declines

Gold Rises, Dollar Declines


4/16/2021 8:39:11 AM

Gold Rises as Dollar Declines

As of 9 a.m. EDT Friday, Gold was up to $1,786.70, Silver rose to $26.32, Palladium followed suit at $2,798.50 and Platinum dropped to $1,208.30.

A computer chip shortage threatens United States markets. If a solution is not found soon, the global automobile industry stands to lose $61 billion in sales this year.

Bitcoin hit an all-time high of $63,000 mid-week, outperforming its last peak in March. Coinbase Global, Inc. went public this week, fostering hope that cryptocurrency will continue to grow in mainstream popularity.

The S&P 500 hit an all-time high this week, despite a nationwide pause on Johnson & Johnson COVID vaccine distribution due to side effect concerns.

This week, spot Gold rose to the highest price per ounce since the end of February.

Experts give credit to stimulus checks and wide distribution of the COVID-19 vaccine for a 9.8% spike in March retail sales.

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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