Owing to a stronger U.S. dollar, buck-denominated precious metals have fallen out of favor again. Both gold and silver currently find themselves in the red for the month of September with just a couple of trading days to go.
This couldn’t possibly be good for business. We are coming to the point where this group is going to boycott those products and that group is going to boycott these products. I heard Maria Bartiromo say with the decrease in ratings, the advertisers will be paying out less. That’s just the start of it because the horses really got out of the barn yesterday.
In August, tensions between the U.S. and North Korea rose after Trump’s famous remarks that threats to the U.S. from Pyongyang would be met with “fire and fury”. The relations between these two countries have not been so tense for a long time. What does it imply for the gold market?
Concerned about the global economy? Don’t be, says Dr. Copper. Despite the recent slowdown in the U.S. economy and equity markets becoming a little wobbly, copper prices have been surging higher over the past three months following a lengthy 6-month consolidation.
The last couple of years and—in particular—the last couple of months were very difficult for gold traders—i.e. they were boring. Despite several huge daily price swings, the precious metals market has not been going anywhere, moving in and around the $1,100 - $1,300 price range.