(Money Metals News Service) With President Donald J. Trump taking the oath of office yesterday, it promises to be a news-filled week of executive orders and appointments.
Markets are watching for proclamations on the economic policy front. Trump stated yesterday that he looks to hit Canada and Mexico with 25% tariffs within a few weeks, although the specific goods that would be covered are unknown. Traders seem to believe that gold, at least, will be excluded, as implied by a narrowing spread between U.S. futures market prices and spot prices elsewhere. (A larger spread in silver remains, however.)
Meanwhile, silver prices and especially gold prices have been drifting upward. At $2,740 this morning, gold is now less than 2% below its all-time high reached right before last year’s presidential election.
This gold strength is coming in the face of a Federal Reserve note “dollar” that remains strong against other devaluing fiat currencies across the globe.
Meanwhile, demand in the U.S. retail bullion market remains, leading to historically low premiums. That means purchasers are able to increase their cost efficiency, as our own Clint Siegner explained yesterday.
Some of the best deals on the Money Metals site can be accessed on our specials page.
Check it out here or call us at 1-800-800-1865!
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