Gold Rises, Dollar Declines
4/16/2021 8:39:11 AM
Gold Rises as Dollar DeclinesAs 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.