The bond market has trouble buying Fed speak that U.S. rates will not go up anytime soon. And gold is paying again for that anxiety.
NEW YORK - Wall Street gained ground on Thursday, with the Dow and Nasdaq briefly touching record highs, as investors' hopes for fresh fiscal stimulus ahead of President-elect Joe Biden's pandemic aid proposal were countered by weakening labor market conditions.
WASHINGTON - America will be in uncharted territory when the U.S. Senate meets as soon as next week for the impeachment trial of Donald Trump, the first U.S. president both to be impeached a second time and to face trial by lawmakers after leaving office.
The expectation was that 2021 would be a brilliant year for gold. While it may still turn out to be so, the first week of the year is proving excruciating for longs in the yellow metal, stunned by their worst weekly loss since November.
The Dow fell Friday on a surprise decline in monthly jobs, and cooling expectations for stronger stimulus-led recovery as some Democrats appear hesitant to back the idea of boosting stimulus checks.