

Gold futures are soaring to start the trading week, climbing back above $1,800 for the first time in more than a week. The yellow metal has been slumping this year, despite several single sessions of massive gains. Could this be the catalyst to restart the rally, or is this another
March gold futures surged $32.30, or 1.82%, to $1,809.70 per ounce at 16:42 GMT on Monday on the COMEX division of the New York Mercantile Exchange. Gold prices are coming off a disappointing 2.3% weekly loss, but the performance on Monday has pared their
Silver, the sister commodity to gold, is starting to retest its 52-week high. April silver futures soared $0.786, or 2.88%, to $28.04 per ounce. The white metal was relatively flat last week, allowing prices to hold onto their 2021 gains.
Inflation worries are sending the metals market higher, evident by rising Treasury yields. The Federal Reserve has maintained an
Treasury Secretary Janet Yellen recently pushed for
A weakening greenback is also supporting gold prices to start the trading week. The US Dollar Index (DXY), which measures the greenback against a basket of currencies, fell 0.39% to 90.01, from an opening of 90.32. The index slipped 0.4% over the last week, essentially erasing its
In recent weeks, financial analysts have been discussing a “commodities supercycle,” a term to describe
But the question remains: Will investors choose gold or bitcoin as a hedge against inflation?
In other metal markets, March copper futures picked up $0.0565, or 1.39%, to $4.1305 per pound. March platinum futures declined $12.10, or 0.92%, to $1,281.20 an ounce. March palladium futures added $17.30, or 0.73%, to $2,385.00 per ounce.
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Published under: Gold