The feature in the marketplace to start the trading week is
gold prices surging to a record high of $1,941.90, basis
nearby Comex futures (as of this writing), and silver
futures hitting a seven-year high of $24.82. A continued
surge in Covid-19 infections in major industrialized
countries, a new U.S. government stimulus package totaling
$1 trillion, a slumping U.S. dollar index that hit a nearly
two-year low overnight, rising U.S.-China trade tensions,
and a big surge in buying of gold-back exchange traded
funds, including the Robinhood platform, are propelling the
safe-haven metals sharply higher. Said one broker in a
morning email dispatch: “Investors see holding gold as
offering less risk than other instruments while enjoying
upside momentum.”