Republicans Turn On Trump

By Daniel John Grady of Orbex

Wednesday, January 13, 2021 9:10 AM EST

Gold closed 0.58% higher on Tuesday as the upturn begins after last week’s collapse.

The greenback’s decline is keeping bulls hopeful, amid expectations of a multitrillion-dollar stimulus likely to be announced by President-elect Joe Biden soon.

Added to the pandemic numbers and the civil unrest, could we see the yellow metal make a full retracement?

Oil at 11-Month High

WTI jumped over 2% yesterday, eclipsing the $53 handle.

Strong API figures showed a large crude draw which led the black gold higher. The rally now looks towards EIA figures released later today, as a further move would cement a push towards $60.

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