Overall, gold's performance so far this year has been disappointing, with a decline that began on January 6. Indeed, the market has faced some headwinds so far. U.S. yields have risen faster than expected against a backdrop of increasingly optimistic prospects for the economy with the emerging U.S. stimulus package and the vaccination process underway.
Rising commodity prices are expected to continue to provide investors with opportunities through equities or direct exposure to oil.
In a feverish market attentive to the slightest announcement, the price of Bitcoin has lost more than 20% in less than two days in reaction to a new warning from the US Treasury Secretary and after tweets from Tesla's whimsical boss, who is a fervent promoter of the cryptocurrency.
The euro advanced against the dollar on Monday in a market awaiting US Central Bank (Fed) Chairman Jerome Powell's Tuesday and Wednesday hearings before US lawmakers.
The British Pound crossed back above the psychologically significant $1.40 threshold on Friday, galvanized since the beginning of the year by a rapid vaccination campaign in the UK and by the conclusion of a post-Brexit trade agreement with the EU at the end of 2020.
Bitcoin, the world's largest cryptocurrency, has been booming since the end of 2020, with BTCUSD showing no signs of slowing down on the charts.
Driven since the low point of January 29 by investors' optimism regarding the recovery of the economy, and therefore the recovery of demand, oil prices continue to rise this Wednesday.
Yesterday, most U.S. markets were closed due to President Day. In addition, Chinese markets are also closed due to the holidays that accompany the lunar New Year.
The foreign exchange market was rather quiet on Monday (US Forex traders were off work on Monday in the US due to President's Day).
Gold prices ended the week on a softer note after having shed almost all of their weekly gains on Thursday.
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