Precious Metal prices surge on U.S. stimulus deal: What’s next? [Video]
![Precious Metal prices surge on U.S. stimulus deal: What’s next? [Video]](https://editorial.fxstreet.com/images/Markets/Commodities/Metals/Gold/gold-gm187363896-28836378_XtraLarge.jpg)
Precious metal prices surged on Monday – driven by news that U.S. lawmakers reached an agreement on a $900 billion aid package, while lockdowns in the United Kingdom soured appetite for riskier assets and added to safe-haven demand.
The $900 billion U.S stimulus deal is one of the largest economic relief bills U.S history, second only to the $2.2 trillion Cares Act in March of this year.
Last week, Gold and Silver prices skyrocketed following the FOMC’s final policy meeting of 2020, when Fed Chairman Jerome Powell “made it very clear that interest rates will remain near zero until 2024 and they are fully committed to pushing inflation higher”.
Given rising inflation expectations, weakening dollar and still no clear end in sight to the pandemic – demand for safe-havens should remain well supported – continuing to drive precious metal prices higher throughout 2021 and beyond.
Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:
Author
Phil Carr
The Gold & Silver Club
Phil is the co-founder and Head of Trading at The Gold & Silver Club, an international Commodities Trading Firm specializing in Metals, Energies and Soft Commodities.
