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Gold Rallies

Posted by 1st American Reserve on

Gold dropped $5 last week on a temporarily stronger dollar, which is up about 1% so far in 2021. On Friday, January 15, gold fell from about $1,855 to $1,825, then reached a six-week low before rallying by Wednesday morning to $1,868. Currently, gold is caught in a tug-of-war between the bullish pull of an anticipated $1.9 trillion stimulus package and the temporary pressure of the dollar’s strength, but the dollar will likely weaken when the Fed and the Treasury pour trillions more fiat money into multiple relief efforts in the new year.

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