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Precious Metal Underdogs Are Up

Precious Metal Underdogs Are Up

APMEX

4/30/2021 8:39:45 AM

Rising inflation pressure in the United States supports bullion’s continued momentum. As of 8:30 a.m. CST Friday morning, Gold was at $1,777.50, Silver rose to $26.23, Palladium leapt to $3,009 and Platinum hit $1,229.70. 

Stocks rose this week with support from pandemic recovery, as the S&P 500 reportedly hit an all-time high. Treasuries slipped, the dollar grew stronger, and futures were bolstered. 

Pandemic recovery is driving the Precious Metals market up according to analysts. This week, Copper saw its highest numbers in almost a decade. Palladium is another rising star thanks to an increased need from the automobile industry. 

Cryptocurrency as a whole remained characteristically volatile this week. Dogecoin largely remained an anomaly, retaining an atypical high value.  

Jobless claims dwindled slightly. Analysts report that economic recovery is on track, fueled by many industries getting back to business as usual thanks to the COVID-19 vaccine. 

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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