Gold Over $1,200 Based On Uncertainty
JH: My name is Jack Hanney, Senior Partner at Patriot Gold Group, home of the lightning fast, 24 hour IRA application process, Consumer Affairs Top Rated Gold Dealer nationwide, 2016. Gold rose to over $1200 an ounce, surpassing a psychological barrier. Silver is in the 17s, entirely based on the uncertainty ahead, eight days before the inauguration. Whether you like Trump or not, whether you are a Republican or a Democrat or neither, one has to acknowledge that the situation in Washington is a mess and is impacting America’s standing on the world stage.
It highlights the continuing political uncertainty in the U.S. and does not bode well for the next four years as it will likely contribute to heightened geopolitical uncertainty. If this continues we may see more meaningful impact on risk assets such as gold and silver are likely to go up and stocks and bonds will be vulnerable. The U.S. stock market has pulled back triple digits and is looking especially vulnerable. A new safe, haven bid in the gold market is being seen. And looks like it will continue in the coming weeks and throughout 2017 and beyond. Indeed in terms of the gold market, there is a good possibility that the four years of the Trump presidency may be the gift that keeps on giving.