What Is Next For Gold, Silver, And Stocks As They Soared And Dipped Last Week?

Image Source: Unsplash

Last week was a busy week in the financial markets, as we saw the Federal Reserve raise interest rates by 1/4 of a point and bad earnings reports from Apple, (AAPL), Meta Platforms (META), Alphabet (GOOG), and Amazon (AMZN). The underlying bad news wasn’t always reflected in the price action of these stocks, as Meta Platforms also announced a $50 billion share buyback program and soared, forcing short sellers to scramble.

Meanwhile, the US government reported that over 500,000 jobs were created in January, showing us that the US economy remains strong despite these bad earnings reports. The economy is changing as people are adjusting their spending habits in face of the inflation, but they are still going out and doing things.

Meanwhile, gold rallied big during the week, touching $1975 an ounce, only to dump hard on Thursday and Friday, falling back below $1900. The price of silver moved accordingly. Is this big a top in the precious metals market? You have to realize that gold has rallied almost straight up from $1625 in the past few months without any real pullback at all, so a dip was coming, and now sideways action in markets is likely to play out for the next few weeks.


More By This Author:

I Don’t Trust The Stock Market This Week
Bonds Gave Us A Key Stock Market Signal The Same Week Musk Met With His Business Masters
Pivotal Week Lining Up For Gold, Silver, Commodities and the US Dollar Index – Mike Swanson

Read my disclosure here, and my disclaimer here

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.