Gold: 1297.80 +17.20▲
| Silver: 15.64 +0.34▲
| Platinum: 815.00 +13.00▲
| Palladium: 1341.00 +38.00▲
13:36 NY Time
Gold Solidly Up, At Session High, As USDX Hits Daily Low
Friday January 25, 2019 09:17
(Kitco News) – Gold prices are posting solid gains and are at their daily highs in mid-morning action Friday. The yellow metal extended early gains as the U.S. dollar index is trading down on the day. Some bargain hunting and technical buying are also featured in the gold market following some recent selling pressure. Now, gold prices are poised to close at a technically bullish weekly high close today, which would likely invite some follow-through buying interest early next week. February gold futures were last up $11.20 an ounce at $1,291.00.
Inflation, gold and the U.S. Dollar
The U.S. Dollar has had a long and difficult history of inflation, (as all fiat currencies eventually do) , and is now facing a repurchase of the Q.E. program Obama legislated during his time in office. Q.E. , or Quantitative Easing , took Obama and his administration three attempts, with the final one uncapped so as not to run into any more of those pesky funds limitations. What evolved from that point was the most massive liquidity experiment in the history of man culminating in a ($5) trillion government deficit, one which the Trump people are now attempting to buy back while the Fed raises interest rates at the same time. This does at least address the Q.E. problem and is a refreshing admittance by a sitting political cabinet of facing down your mistakes, even if they aren’t the ones who made them.
What door does this fiscal responsibility open? Well, many think the Fed buyback is meant to illustrate good intentions but will end up with the government borrowing an even larger amount than ($5) trillion going forward into President Trump’s second term.
That leaves gold, and the metals. Gold we believe, is headed up for the short to medium term and will be largely tied to the decline of the U.S. Dollar which is subject to the current U.S. administration’s inflationary policy actions. Those (5) trillion dollars will, and are , finding a home chasing a loaf of bread or a gallon of gas, or a high health care deductible here in America. That means inflation and THAT MEANS BUY GOLD.
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc or 401 Gold Consultants LLC. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
GoldCorn
23h
Just keep buying gold and silver. It will go up. The non gold and silver owners wont admit it and will hate.
Gold Prices Firmer As USDX Backs Off
PurpleSnow
4h
It’s not the USDX.There is much more at work here.As they say, it looks like the cats out the bag!
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