Gold Spikes Over $60 Before Pulling Back After Trump Upset Shocks The World! But Here Is The Real Shocker…
In the aftermath of what is being called the “greatest upset in political history,” Donald Trump has been elected the next president of the United States and this has markets in shock across the globe.
The next ten days or so will present gold with two major events both of which could impact on gold in different ways depending on their particular outcome and they are as follows:
1. Possible interest rate hikes in the US as the FOMC meet
2. The US Presidential Election
The long shadow of interest rate hikes in the US has haunted the precious metals sector for the last two years and is possibly the most important single threat to gold continuing its rally.
Nigel Farage talking sense to the European Union – well worth 5 minutes of your listening time:
Please click here
As the final presidential debate looms one wonders if we will hear anything of substance or be subjected to a continuous barrage of ‘soap opera’ style chit chat. Hilary Clinton’s lead is increasing according to the bookies with the latest odds at 1/5 and Donald Trump at 9/2. The sooner this is over the better for all of us as the uncertainty will have been removed and we can get back to business as usual. Whatever the result both candidates are big spenders and so we can expect many more dollars to be printed which will help support gold in dollar terms. However we should also be cognoscente of the fact that the other major currencies are all in dire straits, the Yen, Euro and British pound are all looking weak, which in turn is supportive of the dollar, rendering the dollar as the best looking horse in the glue factory, as they say.
Billionaire Eric Sprott’s Business Partner Warns The Global Monetary System Is Breathing Its Last Breaths
Today billionaire Eric Sprott’s business partner warned that the global monetary system is breathing its last breaths.
Eric King: “John, people will email King World News and ask, ‘What about a guy like John Embry? Where does he have his money?
On the heels of yesterday’s plunge in gold and silver, today John Embry told King World News that Andrew Maguire is right, the gold and silver smash was orchestrated to bailout shorts.