U.S. Treasury Secretary’s Speech Provided Support to Gold

U.S. Treasury Secretary Yellen said on Sunday (February 7) that if the United States implements a strong enough rescue plan, the economy will return to full employment in 2022, but may in turn lead to a significant slowdown in employment and economic rebound. Yellen’s speech provided a degree of support to gold, because regardless of whether the new US president withdraws from the new round of stimulus plan, there is the opportunity for the price of gold to rise in the medium and long term.