Gold & silver spiked as the “markets” re-opened. Here’s why…
Gold & silver prices are on the move on Sunday night.
Here’s a look at the action when the markets opened a short while ago:
That’s a pretty sweet gap-up, especially silver’s move, and that’s surely a multi-year intra-day high in gold.
Will the cartel get prices back in check?
That is to be seen.
What is going on?
Well, it’s trade war related.
Check out the weakening of the Chinese yuan against the US dollar:
China appears to be “retaliating” in the Trade War.
Well, aside from Xi being either Public Enemy No. 1 or 1st Loser on Friday:
President Trump didn’t stop there.
After the markets had closed on Friday, well, this:
President Trump escalated the trade war by announcing new tariffs.
Let’s follow the chain of events.
On August 1st, here was a headline on Silver Doctors:
Again, does anybody else not find it odd President Trump can use a personal Twitter account for official US government business much in the same way Hillary used a personal email account to conduct official government business?
But I digress.
Two weeks later, I highlighted this in an article on Silver Doctors pertaining to an at-the-time smash on gold & silver:
Actually, it was less than two weeks later, but hey, what’s two days in the grand scheme of things?
So, let’s recap the chain of events:
- New tariffs announced by Trump on 08-01-2019
- Tariffs delayed by Trump on 08-13-2019
- Delayed tariffs cancelled, additional tariffs announced by Trump on 08-23-2019
Trump flip-flops on the tariffs as much as he does on the US dollar.
I can’t understand how people think he’s doing the right thing?
Is this flip-flopping truly any good for the US economy?
Not sure, well, just ask a farmer that question.
Or ask an automobile worker as well.
Or you could ask a steel worker.
Bottom line is it’s not good.
But if you understand.
He’s the fall guy.
– 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.