March 15th March Update
Gold Sneaks Into Investment Picture with Inflation Looming
Gold has been falling over the last few weeks, but with the recent passing of the U.S. stimulus package, it has crept back up. Gold reached $1,739.68 by 9 a.m. EDT, coming off a week that saw it dip below the $1,700 mark briefly. Silver has also risen. Despite a rough year, gold and silver are both up year over year. The market for precious metals went wild around this time last year. Metals have dropped from their previous highs but still retain some of the excess value they built up. Silver is up 32% year over year and Gold up 8.9%. Sources close to U.S. President Joe Biden indicated that tax hikes were on the horizon to allow the government to pay for this stimulus package and ongoing economic programs.
Treasuries edged up today, and Bitcoin is up. Bitcoin went over $61,000 this weekend but dropped to start the week and erased gains.
Growth rates for economies may be down, but so is another important growth rate: births. Population growth is down significantly across the globe.
Reserve banks in the U.S., England and Japan meet this week to discuss policy.