Mother Yellen Had Her Turn Yesterday.
Today, Trump Sent Gold and Silver Prices Higher:
Gold and silver prices have been consolidating recent gains this week, with gold trading between $1220 and $1230/oz and silver continually bouncing from $17.80 back to $18.
The metals sold off Tuesday morning as Fed Chairwoman Janet Yellen informed Congress “waiting too long to hike is unwise”, resulting in the market almost immediately fully pricing in June and December Fed rate hikes.
Silver was sent down 30 cents from $18.10 to $17.80, and gold was sent from $1235 down to a low of $1216 this morning.
Trump jerked the markets and metals back higher today however, informing the markets “we’re doing a massive tax plan” that “will be submitted in not so distant future”
The comments sent the DOW soaring to an all-time high over 20,600, and sent silver back above $18/oz and gold back over $1230.