Bullion Prices Bump Through The Week of February 8, 2021 But No Breakouts

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Gold Bullion Coins

Bullion investors watch as gold and silver prices twist and turn throughout the week of February 8, 2021, but there have been no unusual jolts in the marketplace in recent days. This comes in the wake of the silver squeeze that began a couple weeks ago and saw prices move up to about $29 per ounce early last week before prices settled back to around $27. Meanwhile, gold continues hovering between $1,800 and $1,850 per ounce, with slight upticks and downticks reacting to various incoming economic reports and stock market actions.

There still seems to be a sense of disillusionment among some bullion investors who were convinced that Joseph Biden becoming president was going to send gold and silver prices skyrocketing; perhaps these same individuals presumed market mayhem on their fears of new, novel marketplace initiatives or socioeconomic policy they perceived as radical. Whatever the case, quite the opposite has proven true. The United States is turning a corner on the COVID-19 pandemic, international relations are normalizing, and the stock market continues flirting with or is hitting record highs virtually day after day.

Of course, gold and silver prices aren’t entirely contingent on the direction of domestic or international policy, but relative peace has some influence on the prevailing winds of the financial markets and commodities exchange, and that has some sway on bullion.┬áThose who continue building their bullion portfolios are buying pre-1933 U.S. gold, pre-1965 90% U.S. silver coins, and vintage world gold and silver. Other popular products include American Eagle bullion coins, Canadian Maple Leafs, and other commonly traded, highly familiar legal-tender bullion products from government mints.

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