Good to Gold: The Trump Gold Rally
Posted By | April 30, 2017
Gold is at a five-month high, and we have President Trump to thank. In fact, it looks to us like the president is doing everything possible to strengthen gold prices. On April 12, he announced the dollar was too strong and wanted to see it weaken. Sure enough, it did, and gold took off like a rocket.
In fact, gold reached its highest level in five months: $1,290 an ounce. And note this statement we saw on CNBC: "As a flight to safety into U.S. Treasuries comes in, and yields continue to compress, gold becomes a lot more attractive," said Boris Schlossberg, managing director of foreign exchange strategy at BK Asset Management.
As we’ve pointed out numerous times, gold and the dollar are on opposite ends of the investment and price seesaw. When the dollar weakens, gold gains strength. It makes sense – people prefer to own the real metal rather than a “weakening piece of paper.” Gold also goes up with war, and here again we have to thank Mr. Trump for his Syrian missile attack and the dropping of the Mother of All Bombs on Afghanistan. Is nuking North Korea next? Who knows? But if it happens, I believe we’ll all be happy we own plenty of gold.
For millennia, buying gold has been the popular reaction to the unleashing of the dogs of war. Clearly, Trump feels pretty comfortable annihilating our enemies, foreign and domestic. It’s not surprising the new sheriff in town is flexing his muscles. We know some citizens are nervous about this and will wring their hands, but we have to do what it takes to protect our country, and it’s nice to know there’s a guy at the helm who won’t shrink from the hard decisions.
Another thing: All this nonsense about Trump colluding with the Russians is 100-percent disproven by the latest developments. Poor Vladmir – he thought destroying Crooked Hillary would put Trump in his pocket. Instead, the President is up in his face, and we won’t be surprised if Putin goes whimpering into history, his tail between his legs.
So, things are a little unsettled in our nation, but they are looking good for gold: a weakening dollar, war looming on several fronts – even the FBI investigation of the Trump campaign. As the president said, it’s not too late to fire Comey. I suggest you buy gold before he does. Open an Augusta® Gold IRA from Augusta Precious Metals today and stock up on gold. You can bet, if the FBI chief gets his walking papers, gold could just skyrocket some more.
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