Precious Metal Underdogs Are Up
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.