Metals Minute 22: Metals Bounce Back

We have seen most of the metals bounce back from what will likely be the low point for 2021 for gold and silver, reached last week. Platinum’s low was likely seen in January, and Palladium in February.

For the week, gold has moved up 3% to $1743, and silver up 4% to $25.07 since the “Blue Light Special” we mentioned last week. Platinum moved 4% higher to $1240, and Palladium was flat (down $2) to finish at $2666.

For the 1-yr time frame, gold is up 6%, silver up 66%, with Platinum pulling ahead of silver, up 67% from a year ago. Palladium is up a strong 22%.

An estimated 150 million people worldwide have dropped out of the middle class, for the first such decrease since the 1990s. Economic difficulties related to the pandemic receive most of the blame.

Meanwhile, life in the United States has gotten more expensive as the world reduces its dependence on Dollar-based assets in favor of gold. The reasons are outlined in more detail in this week’s article here.

One of the best tools we have to protect our finances and our future is precious metals.