Gold Prices Spike, But Will It Last?

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Gold

On the morning of Thursday, March 25, 2021, gold prices took a decided turn northward, lurching from $1,725 an ounce to $1,745. It's been a session of mixed news, with the United States dollar showing a little more strength, crude oil sinks, and jobless claims fall to their lowest point yet during the COVID-19 pandemic among continued economic stimulus payouts. But what does all this really mean for precious metals, which remain at lower levels off highs during summer last year?

It paints a picture of the bullion investor's lament — one of disappointment, especially at a time when so many silver stackers and gold bugs feel like prices should be swaying in positive territory. Perhaps things aren't really as bad as some think they are; the pandemic is on the (hopeful) decline, and continued doomsday predictions that the fiat dollar will collapse aren't materializing — and thankfully so, for the sake of the American economy and global sociopolitical dynamics.

So, is there anything bullion investors can look forward to amid the rosier outlook these days? Of course... A more robust economy and an increasingly globalized community means more opportunity for industrial gold and silver demand to increase — against essentially finite bullion supplies. And if the rise of the green economy takes off as long predicted, then watch precious metals — necessary materials for the production of photovoltaic cells and other green technologies — aim through the roof.

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