April 5th Market Update
Gold Fluctuating to Start the Week
Take advantage of lower premiums today with gold at $13 over spot and silver at $0.50 over spot.
Gold hit $1,734.20 by 9 a.m. EDT, but it continues to swing within a small range, with no clear direction in sight yet. Risk-takers are leaning into assets that aren’t hedges. It’s unclear where gold is going today. Global stocks are at a 1 1/2 month high. The Fed said they would not change interest rates, but they may change their minds depending on what the economy does.
Jobless claims were massively higher than expected last week, hitting 719,000. That beat both estimates and the previous week’s high number.
India’s COVID-19 restrictions rose over 100,000 for the first time. China is working to add more vaccines. Vaccine numbers worldwide continue to rise.
Joe Biden’s infrastructure plan is already running into roadblocks with the Republican Party, and it will likely be a battle to get it through. Biden is moving ahead in the meantime with tariffs on some nations that put taxes of their own on U.S. tech giants.