Gold and silver continued their relentless move higher this week, with both metals spiking through resistance levels Tuesday morning as markets reopened from a three day weekend due to MLK Day.
Gold broke through critical resistance at $1200 and traded as high as $1220. Silver shot through $17 and continues to move higher in early Wednesday trading with a last of $17.35.
The moves in gold and silver came as the dollar plunged after the Wall Street Journal released an interview with Trump over the weekend, in which the President-Elect called the Dollar “too strong” and stated the strength of the Dollar “is killing us.”
The dollar reacted by plunging lower against virtually all currencies. Keep an eye on the trading action in the dollar and the USD/JPY pair over the next week, as the dollar appears to be rolling over, and we suspect Trump’s first major economic interview may have just popped the TrumpFlation rally.
Metals analyst Stewart Thomson breaks down the “fabulous rally” for gold, silver, & the shares – & states the current trading action is indicative of a rally that may be in the early stages, rather than near an end…
President-elect Trump will be inaugurated in just two days. Trump’s inauguration will be historic, for Trump will be the only person ever to become president of the United States with no prior government or military experience.
Nearly a million supporters and protesters are expected to attend Trump’s inauguration.
I recently interviewed former Congressman Ron Paul. Make sure to check out this interview.
In the interview, Paul warns about the attacks on free speech that we’ve been seeing, with websites such as his and also Silver Doctors’ being labeled as “Russian propaganda outlets.”
Dr. Paul also addresses the Audit the Fed bill that his son Congressman Rand Paul has introduced in the Senate. Will Rand and Trump Unite to Take Down the Fed?