Gold prices continued to consolidate last week, as the 50-day and 200-day averages converged. Prices closed the week at $1,850.30 per ounce (see the following chart). President Biden has signed over 40 executive orders in his first nine days in office. Two that will have a significant economic impact are (1) raising the minimum wage to $15 an hour, and (2) canceling the Keystone Pipeline, which could cost thousands of jobs both directly and in associated businesses. AdvisorShares Ranger Equity ETF adviser and longtime bear David Tice believes stocks could fall at least 30% in a drawn-out bear market due to business unfriendly policies from Washington. In an interview with CNBC , Tice says, “We now have a Biden administration that has a Senate and a House. They’re likely to enact very much more anti-capitalist policies. … They have already raised the minimum wage. That’s going to hurt earnings on the cost side.” As a result, Tice believes gold could be a top asset for investors, noting, “Gold is dramatically under-owned by individuals and portfolio managers. … Gold stocks are incredibly cheap.” Rick Andrews is president of Avant Capital Management.