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Is Trump Going to Tweet Gold Prices to Skyscraper Levels?


 -- Published: Thursday, 20 April 2017 | Print  | Disqus 

By Graham Summers

 

Trump is speaking… but the markets still don’t hear him.

 

On January 17th 2017, the Wall Street Journal published an article in which Trump stated point-blank that the $USD is “too strong.”

 

The US currency took note, falling over 1% that day bringing it to critical support.

 

http://goldseek.com/news/2017/4-20gs/image002.jpg

 

However, the Fed had different plans for the greenback, hiking rates in March and then promising to hike them twice more in 2017. And the $USD reclaimed this line and since maintained it.

 

So ask, Trump struck again, this time tweeting “the US Dollar is too strong.”

 

http://goldseek.com/news/2017/4-20gs/image004.jpg

 

Look regardless of one’s political views here, it’s obvious Trump wants the $USD lower. And it’s also obvious that he’s trying to woo Janet Yellen to his side of this situation.

 

"I like her, I respect her," Trump said, according to a WSJ published Wednesday. "It's very early. [regarding renominating her in 2018]"

 

When asked about Yellen, according to the Journal, the president added: "I do like a low-interest rate policy, I must be honest with you."

 

Source: CNBC

 

You can easily read between the lines here. Trump would like Yellen a lot more if she stopped hiking rates and maintained a “low-interest rate policy.”

 

In the simplest terms possible… Trump wants a lower $USD and low interest rates. And he’s going to keep pushing for both until he gets them.

 

And Gold knows it too.

 

The precious metal has been on an absolute tear so far in 2017, crushing stocks AND bonds.

 

http://goldseek.com/news/2017/4-20gs/image006.jpg

 

And as Trump continues to push the $USD lower, Gold will only perform even better. Once the precious metal takes out the downward sloping trendline dating back to the 2011 top, the path is clear for an eventual more to $1600 per ounce.

 

http://goldseek.com/news/2017/4-20gs/image008.jpg

 

Those looking to ride the Trump train from an investment performance would do well to heed the above charts.

 

Best Regards

 

Graham Summers

Chief Market Strategist

Phoenix Capital Research

 


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 -- Published: Thursday, 20 April 2017 | E-Mail  | Print  | Source: GoldSeek.com

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