Gold & Silver are taking a liking to Jerome “Sustain The Expansion” Powell even if President Trump wants MOAR!
Jerome Powell began speaking a 10:00 a.m. at Jackson Hole.
After the standard prep the metals going into a Fed Head speech, gold & silver are responding quite well:
Not a bad little move.
Of course, it’s also a continuation move from the earlier announced escalation in the Trade War by China:
Silver is up some $0.30 from just a few hours ago.
More on Fed Dove Powell, from Bloomberg (bold added for emphasis)
“Trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the United States,” Powell said in the text of his remarks Friday to central bankers gathered at the Kansas City Fed’s annual symposium in Jackson Hole, Wyoming. “We will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2% objective.
Translation: We will continue to screw savers and enrich our politicians, ourselves, and the establishment Globalists at the expense of Main Street and the US Dollar.
The question is, are gold & silver now in the clear?
Let’s look to Twitter for clues:
Jerome “Sustain The Expansion” Powell wasn’t quite dovish enough for the President.
Which means gold and silver are likely in the clear for today.
Especially if Trump really gets worked up.
Should be fun to watch.
– Half Dollar
About the Author
U.S. Army Iraq War Combat Veteran Paul “Half Dollar” Eberhart has an AS in Information Systems and Security from Western Technical College and a BA in Spanish from The University of North Carolina at Chapel Hill. Paul dived into gold & silver in 2009 as a natural progression from the prepper community. He is self-studied in the field of economics, an active amateur trader, and a Silver Bug at heart.