Benchmark U.S. crude oil for July delivery rose 62 cents to $70.91 a barrel Friday. Brent crude oil for August delivery rose 17 cents to $72.69 a barrel.
Wholesale gasoline for July delivery fell 2 cents to $2.19 a gallon. July heating fell 2 cents to $2.12 a gallon. July natural gas rose 15 cents to $3.30 per 1,000 cubic feet.
Gold for August delivery fell $16.80 to $1,879.60 an ounce. Silver for July delivery rose 12 cents to $28.15 an ounce and July copper rose 5 cents to $4.54 a pound.
The dollar rose to 109.72 Japanese yen from 109.43 yen. The euro fell to $1.2104 from $1.2171.7 Precious Metals Stocks That Will Keep Your Portfolio On Trend
The growing acceptance of cryptocurrency is beginning to make mainstream investors rethink their idea of “store of value.” The trendy possibilities of Bitcoin, Ethereum, and any of the dozens of altcoins that exist on the blockchain are trending like the latest fashion.
However, the thing about fashion is that the more things change the more things stay the same. Just like the simple black dress that won’t go out of fashion, the same can be said for precious metals stocks. One way to think about it would be to say that the existence of a growing cryptocurrency market doesn’t change the value of precious metals.
Precious metals have long been known to be a safe-haven asset in times of market volatility and economic crisis. In fact, during the Covid-19 pandemic, gold prices surged about 30% breaking the $2,000 mark for the first time in its history. This was at a time when the prices of many cryptocurrencies were falling.
And precious metals have also been seen as a hedge against inflation, which seems like more of a certainty with the Federal Reserve’s pledge to keep interest rates at historically low rates into 2023.
Whether you’re looking to take your first steps at crafting a precious metals portfolio or if you want to fine-tune the one you have, we believe this special presentation is a good place to start your research. We’ve identified seven precious metals stocks that look to retain their allure in 2021.
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