Gold and silver prices continue bobbing up and down, as if surfing waves in a churning ocean. This has certainly been true during the week that began on July 19, 2021, as the United States economy fends off turbulent ripples inflicted by rising inflation. This, while Americans are navigating an employment scene currently reinventing itself amid calls for higher minimum wages and a move toward permanent work-from-home arrangements wherever feasible for workers and their employers.
Meanwhile, stock market indices have been seeing tough days, as was the case on July 19, when the Dow lost more than 700 points. The losses have been somewhat recouped over the last few days, but such steep drops suggest investors aren’t necessarily confident in stocks right now.
So, where are investors turning? Gold and silver bullion are winning over many stock market skeptics, even if precious metals prices aren’t littered with all green, upward-facing arrows. But, bear in mind, gold and silver are being influenced by much more than stock market activity alone. Oil prices are showing upward mobility, home prices are on the ups (but a bubble may be on the verge of bursting), and the dollar remains relatively buoyant — but could weaken if the U.S. keeps pumping out trillions to help support new spending measures. There are shining opportunities for precious metals investors who want to hedge their bets against inflation, which is also threatening the health of the U.S. economy.
What all of this means in the short term or long term is open for interpretation. But those who wish to invest in gold or silver may be seeing a great buyers’ market right now as gold hovers around $1,800 an ounce and silver ticks along around $25.50 — both figures representing bargains as compared to highs for both precious metals over the last 12 months.