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Marketplace Shortages Persist

Marketplace Shortages Persist

APMEX

5/14/2021 8:41:03 AM

Gold prices hit $1,844.12 per ounce by 9:00 a.m. EDT. Silver hit $26.93. 


Gasoline shortages plagued the United States as a result of a hack on Colonial Pipeline, Co., a crucial 
operator. Americans felt the pinch as scarcity grew and gasoline prices rose to over $3 a gallon. Efforts were made from a governmental standpoint to reduce pressure and Colonial got back to business late in the week.
 

 

The week brought a largely downward trend for stock futures, Treasuries and the U.S. dollar.  

 

Computer chip shortages continue to threaten multiple markets, including the automotive industry. However, the shortage brought good news for used car sales, as prices rose 10%. The rise was unprecedented across data collected since 1953. Consumer goods prices also saw an uptick of 0.9% between March and April, the most since 2009. 

 

U.S. agricultural exports were threatened late-week by a hiccup in export routes through the Mississippi River. A crack in a bridge along the route inhibited more than 700 barges of exports from passing, threatening markets tied to exports. Another point of concern this week from an international standpoint is the Israel-Palestinian conflict that continues to rise to a crescendo. 

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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