Skip to main content Read accessibility statement

USA Gold
Coins & Bullion since 1973
Open 8am to 7pm MT Weekdays
10:04 pm Sat. January 23, 2021 (USMT)
Gold $1,858.28   Down Arrow $-14.09
Silver $25.60   Down Arrow $-0.42

Daily Gold Market Report

Landscape mode is recommended for mobile phone viewing.

Gold gives up much of this week’s gains as recession thinking regains upper hand

(USAGOLD – 1/22/2021) – Gold gave up much of its gains over the past week this morning as commodities in general sold off and recession thinking regained the upper hand in financial markets. The yellow metal is down $31 at $1841. Silver is down 80¢ at $25.21. Matterhorn Asset Management’s Matthew Piepenburg sees opportunity in the precious metals’ market sell-off of the past few weeks.

“Although it’s normal to expect a correction phase within a larger bull market for both silver and gold,” he explains in an article posted at King World News, “the price retracements of late signal a buy opportunity for precious metal investors, not grounds for a bearish panic—unless you’re a gold trader blind to technical buy/sell signals. The broader bull market in gold today is much different than the bull markets of 1971 to 1978, or 2010, which saw very little interest/demand from western buyers. Demand going forward will in fact be driven more by western than eastern buyers, though current investors can’t ignore declining demand from China, Russia or India going forward. That said, the gold-silver dance described above will be very different going forward as both assets rally in synch rather than two steps up, one step back.”

Chart of the Day

bar chart showing gold's average annual prices 1971-2020

Sources:  St. Louis Federal Reserve [FRED], ICE Benchmark Administrtation [IBA]

USAGOLD note:  Most of our readers know that gold had a very good year in 2020 but few know that it posted its highest average annual price ever – $1770 per ounce.

Market Data by TradingView Delayed data except FOREX


Disclaimer – Opinions expressed on the USAGOLD.com website do not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any precious metals product, nor should they be viewed in any way as investment advice or advice to buy, sell or hold. USAGOLD, Inc. recommends the purchase of physical precious metals for asset preservation purposes, not speculation. Utilization of these opinions for speculative purposes is neither suggested nor advised. Commentary is strictly for educational purposes, and as such, USAGOLD does not warrant or guarantee the accuracy, timeliness, or completeness of the information found here. The views and opinions expressed at USAGOLD are those of the authors and do not necessarily reflect the official policy or position of USAGOLD. Any content provided by our bloggers or authors is solely their opinion and is not intended to malign any religion, ethnic group, club, organization, company, individual, or anyone or anything.