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Gold Likes Trump Drama
May 18,2017 10:34CST
industry news
Source:kitco news
The continuing drama surrounding the maelstrom in the White House is beginning to affect the equity markets and the perception of whether the Fed will raise rates in June.

Peter Hug  Peter Hug 
Wednesday May 17, 2017 08:21
(Kitco News) - The continuing drama surrounding the maelstrom in the White House is beginning to affect the equity markets and the perception of whether the Fed will raise rates in June. The yen, which some consider a safe-haven trade, has risen almost 2% in the past three days, which mirrors gold’s rise over the same period. Until the Trump administration can refocus on the “plan,” risk assets remain vulnerable and gold will remain well bid. Would look for a close above $1,254 to propel gold to the $1,265 level. Support resides at the $1,238 level. Silver remains undervalued, relative to gold, but a break above the $17 figure is required to generate momentum.
By Peter Hug
Contributing to kitco.com

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