Will Silver Outperform Gold in Q1 2021? [Video]

Phil Carr The Gold & Silver Club

After posting a 47% gain in 2020, Silver prices are currently within a range as traders await a fresh fundamental spark to ignite the precious metals next big move.

On Thursday, U.S. President-elect Joe Biden unveiled a $1.9 trillion stimulus package proposal to jump-start the economy and accelerate coronavirus vaccinations.

Elsewhere, Federal Reserve Chairman Jerome Powell said there is no reason to alter the central bank's highly accommodative stance with the U.S. economy still far from its inflation and employment goals.

Short-term headwinds aside, the fundamental backdrop for the precious metals complex remains extremely bullish in the long-term.

Where are prices heading next? Watch The Commodity Report now, for my latest price forecasts and predictions:

Author

Phil Carr

The Gold & Silver Club

Phil is the co-founder and Head of Trading at The Gold & Silver Club, an international Commodities Trading Firm specializing in Metals, Energies and Soft Commodities.

EUR/USD clings to daily gains, still below 1.1900

EUR/USD manages to reverse two daily pullbacks in a row and advances modestly on Thursday, hovering around the 1.1880 zone amid the inconclusive price action around the US Dollar. Meanwhile, weekly Initial Claims rose more than expected last week, while attention is expected to shift to the upcoming US CPI data on Friday.

GBP/USD picks up pace, hits 1.3640

GBP/USD trades with modest gains around 1.3640 so far on Thursday. Indeed, Cable looks to leave behind the weakness seen in the first half of the week in a context of an equally erratic performance in the Greenback and disappoting UK data releases.

Gold stays offered below $5,100

Gold keeps the choppy trade well in place on Thursday, navigating the area below the $5,100 mark per troy ounce amid the lack of clear direction in the Greenback, declining US Treasury yields across the curve and caution ahead of Friday’s publication of US CPI.