February 17, 2021

Gold is trading at $1,772.50, its lowest price in 3-months as stocks traded lower Wednesday despite strong economic data.  Retail sales jumped 5.3% in January which was far above the expected increase of 1.1%.  Perhaps investors were spooked after bond yields hit a fresh 1-year high yesterday suggesting the economic recovery is farther along than it actually is, which could have contributed to today’s selloff.  The Dow is slightly positive, and the S&P and Nasdaq are down 0.2% and 0.8% respectively.