Money Metals News Alert
October 09, 2017 — Gold and silver prices rallied strongly on Friday and continued higher this morning, wiping away recent losses. An ugly jobs report has sparked some uncertainty on Wall Street and drove some buying in gold.
U.S. stocks responded to the bad news by merely finishing flat on Friday instead of the relentless move higher traders have grown accustomed to.
The Federal Open Market Committee minutes from two weeks ago are due out Wednesday. Fed watchers now assume the central bank will raise rates one more time before year end. Record stock prices are likely to provide some cover for more tightening.
Markets have largely begun discounting the President’s rhetoric with regards to North Korea. However, should the war of words convert to actual war, we can expect markets to respond. Trump’s most recent comments about now being the “calm before the storm” following a meeting with his generals implies military action may be imminent.
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