Gold prices start the morning of April 1, 2021, on a high note, surging from $1,710 to $1,725 per ounce in early session for a second day of gains. But this comes only after gold’s steepest quarterly drop in seven years. Meanwhile, silver stays below $25 per ounce after a spiking to around $30 two months ago during a speculative run.
The precious metals market remains in flux as the United States economy seems poised to reopen on the heels of a robust COVID-19 vaccination program that offers a promising future. Still, the pandemic seems to be experiencing a fourth wave in the United States, particularly among unvaccinated populations under the age of 60 and overseas, where the vaccine rollout has been spottier. Globally, the economy remains in something of a holding pattern.
Meanwhile, tensions are getting thicker between China and the United States, the latter of which is also making a strong bid to ignite a new “green” initiative that could see greater implementation of solar panels and other energy-efficient technologies. Geopolitical maneuvering and domestic policy all will help shape where gold and silver prices go next.
Gold and silver investors continue socking away precious-metal coins, especially buying on dips to help maximize potential returns should bullion surge. Still, buying precious metals is a long-game strategy, and this could pay off should inflation start taking off — something some analysts say the United States economy will see in the next couple years.