$GLD and $SLV Prices as of August 26 2019 @moneymetals
10:01 AM
August 26, 2019 – Precious metals surged higher in last Friday's trading and surged again after the Sunday night market open in Asia. Concerns over the expanding trade war have been driving investors to pare stock holdings.
On Friday, China announced an additional $75 billion in tariffs on imports from the U.S. Almost immediately, President Trump used an epic Twitter smackdown to announce retaliatory increases in U.S. tariffs. The DOW dropped 623 points.
Fed Chairman Jerome Powell’s remarks on Friday also added some uncertainty to the markets.
The central bankers’ annual symposium in Jackson Hole concluded without any clear signal regarding how far they will go to inject stimulus into the economy.
The President once again criticized Powell for keeping rates too high and asked whether he is a bigger “enemy” than Xi Jinping, the Chinese President and General Secretary of that nation’s Communist Party.
Trump is advocating for major interest rate cuts, but it isn’t clear the FOMC will do much more than one additional cut. It’s interesting to see a U.S. President to criticize a central banker for not doing enough to manage the U.S. economy.
Some speculate that Fed bankers may be willing to let the U.S. economy fall into recession as part of the effort to defeat Trump in 2020. As leading economic indicators worsen, it will be revealing to see how much further the Fed will go with rate
cuts.
Check out live precious metals prices here:
https://goo.gl/gy5XMA
On Friday, China announced an additional $75 billion in tariffs on imports from the U.S. Almost immediately, President Trump used an epic Twitter smackdown to announce retaliatory increases in U.S. tariffs. The DOW dropped 623 points.
Fed Chairman Jerome Powell’s remarks on Friday also added some uncertainty to the markets.
The central bankers’ annual symposium in Jackson Hole concluded without any clear signal regarding how far they will go to inject stimulus into the economy.
The President once again criticized Powell for keeping rates too high and asked whether he is a bigger “enemy” than Xi Jinping, the Chinese President and General Secretary of that nation’s Communist Party.
Trump is advocating for major interest rate cuts, but it isn’t clear the FOMC will do much more than one additional cut. It’s interesting to see a U.S. President to criticize a central banker for not doing enough to manage the U.S. economy.
Some speculate that Fed bankers may be willing to let the U.S. economy fall into recession as part of the effort to defeat Trump in 2020. As leading economic indicators worsen, it will be revealing to see how much further the Fed will go with rate
cuts.
Check out live precious metals prices here:
https://goo.gl/gy5XMA
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