Fed Actions Are WAY More Impactful on Gold/Silver than Politics

Michael Pento: Scary Warning Signs in Cash Funding Markets #moneymetals https://t.co/SwbCMOVo2o

— Money Metals (@MoneyMetals) September 27, 2019

Michael Pento: Scary Warning Signs in Cash Funding Markets

As of this Friday recording, the metals are taking it on the chin here today with gold now looking at a weekly decline of 1.6% to trade at $1,494 an ounce. Silver is down 3.0% for the week to come in at $17.49 per ounce. Platinum is moving lower this week by 1.4% and currently fetches $937 an ounce. And finally, palladium is now commanding $1,692 per ounce after rising another 2.7% this week.

Hard assets in general are facing a headwind from a rising U.S. dollar versus foreign currencies. Precious metals, however, managed to gain in dollar terms and in terms of all major fiat currencies this summer. We’ll see if they can regain some momentum this fall.

In the meantime, investors are trying to balance the prospects for a Trump trade deal with China against the risks of the President being impeached.

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from Precious Metals News