Covid and Democrat Blue Wave Beats Gold :: The Market Oracle ::
What a week! First gold soared to almost $1,960, but then its price (London P.M. Fix) plunged to $1,863 on January 8, as the chart below shows. This is quite strange (and bearish) behavior, given what happened last week. First, there were violent pro-Trump protests in Washington D.C. The rioters stormed the U.S. Capitol. During these riots, five people died. Given the chaos in the capital, gold, which is a safe-haven asset , should shine. Second, the December Employment Situation Report came out . It turned out that the nonfarm payroll employment declined by 140,000 last month . The numbe...