Gold, Silver Pull Back on Routine Downside Corrections

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Here’s a look at the latest developments in the precious metals market for the week beginning 4/18/21.

  • Gold settles at a 2-month high as COVID’s rise rattles market
  • Gold, silver pull back on routine downside corrections
  • Rare 1822 gold coin fetches record $8.4M at auction in Las Vegas

Gold settles at a 2-month high as COVID’s rise rattles market

“A growing sense of unease over the surging COVID-19 cases in Asia has hit risk sentiment and left investors on edge,” Lukman Otunuga, senior research analyst at FXTM, told MarketWatch. “With concerns likely to rise over how this may impact the world’s economic rebound from COVID-19, gold has the potential to push higher as risk-off makes a return.”

Gold futures finished higher for a second session on Wednesday to mark their highest settlement in about two months.

A rise in cases of COVID-19 from more transmissible variants, especially in Asia and Latin America, threatens the world’s economic rebound from the pandemic, boosting the precious metal’s appeal as an investment haven.

To learn more: Gold settles at a 2-month high as COVID’s rise rattles market

Gold, silver pull back on routine downside corrections

Gold and silver prices are lower in midday U.S. trading Thursday. But, Bulls are still enjoying near-term price uptrends in place on the daily bar charts. 

The metals are not paying much attention to a Russion troop build-up near the Russian-Ukraine boarding. However, this matter could boost gold and silver prices should Russian make any military moves to take over Ukraine.

To learn more about trends in spot pricing: Gold, silver pull back on routine downside corrections

Rare 1822 gold coin fetches record $8.4M

It’s one of the most expensive U.S. coins ever sold. At $8.4 million, an 1822 $5 half eagle sold at auction in Las Vegas.

The coin came from the D. Brent Pogue Collection in Santa Ana, California. The coin was graded as AU50, or almost uncirculated. The buyer wants to remain anonymous.

To Learn More: Rare 1822 gold coin fetches record $8.4M at auction in Las Vegas