March 12, 2021

Gold and silver stalled today as low inflation coupled with rising Treasury yields create a bearish argument for precious metals.  For the week, however, gold and silver ended up 1.7% and 2.7% respectively and physical demand remains high amid supply shortages.  The Dow added 293 points on Friday to reach a new high as rising yields boost the expectation that rates will rise, helping value stocks.  The Nasdaq dropped 0.6% today as tech stocks continue to take the brunt of this shift from growth to value stocks.