24
Jan

Current Thoughts 1/24/2017

From the Trading Desk President Trump’s inauguration finally arrived (the most highly attended US presidential inauguration in history according to some sources) and the USD sold off as the markets digested the beginning of his term.  In non-volatile and fairly orderly trading conditions, gold caught bids as the dollar trended lower on inauguration day.  After USD gains following the presidential …

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19
Jan

Current Thoughts 1/19/2017

With President elect Trump’s swearing in tomorrow, I expect to see his anti-dollar strength mantra continue that he started on Monday. This should send gold up to the $1,220 level and from there we’ll see what gold really has in store for us. I have been busy with interviews, writing articles and you can view those on the main blog …

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17
Jan

Current Thoughts 1/16/2017

From the Trading Desk With the US off yesterday for MLK Jr. Day, gold pressed higher yet again in thin trading conditions.  President-elect Trump’s remark that the USD is “too strong” caused the USD to sell off while fresh longs lifted gold further above $1,200.  Overnight, Far East demand remained steady with the Shanghai Gold Exchange trading at $19 premium …

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12
Jan

Current Thoughts 1/12/2017

From the Trading Desk Gold was trading heavily yesterday until Trump’s first presidential press conference provided a lifeline for it to move higher.  After several months of risk-on trading sentiment spurred by Trump’s election victory, his press conference seemed to provide more sobering and ambiguous expectations for his presidency.  His criticism of the pharmaceutical industry appeared to be one of …

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10
Jan

Current Thoughts 1/10/2017

From the Trading Desk Gold has been on a steady decline since Trump’s election victory (and a gradual decline since Brexit), but 2017 has been positive for the yellow metal so far.  A retreating USD, consolidating US equity market, strong demand out of China ahead of the Chinese New Year, and market angst over Trump’s presidency, have all contributed to …

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