Gold futures moved higher on Monday as investors seek ways to hedge against potential inflation. Gold for April delivery (GCJ21) up $4.00 at $1723.70 per ounce on Comex.
Silver futures for May delivery (SIK21) also moved higher on Monday, trading up 0.26 at $26.175 per ounce.
Investors are increasingly looking to gold and other commodities as a way to hedge against inflation. With the $1.9 trillion stimulus now signed into law and a highly accommodative Federal Reserve still keeping rates near record lows, many market watchers believe there will be inflationary pressures. (You can read Trish’s piece on her inflation concerns here.)
Investors are waiting on the Fed’s 2-day policy meeting this week for more clues on what the Fed will do and whether policy makers are concerned about inflation.
For those looking to invest in gold, our team at Trish Intel has a good primer on how to buy gold here.