Loading ...maddog – yeah, the dollar is down over 2%. It doesn’t make a lot of sense though does it? I think it could probably fall a lot further before there would be any talk of raising rates to defend it. That alone should be super bullish for pm’s but the old guard is still in the game casting doubt on pm’s.
I think Trump sort of wants a weaker dollar to make our exports look more attractive anyway. He’s got some very smart people that have no doubt war-gamed this scenario for months, if not years. Howard Luttnick is a smart hombre. The media loves to frame Trump as this loose cannon who just does things willy nilly. I seriously doubt that’s the case.
deer79 – old Clive Maund, that’s a name from the distant past. 43-44 GDX is not much of a correction, it’s sitting at $44.50 right now. I’m not sure where he gets his “overbought” take. Whatever, I hope he’s right and that’s all we get. He’s right about the outlook. It should be excellent.
Silver down 5%. We haven’t seen a rally of 5% in years, I’m not even sure if I’ve ever seen one. Gold picking up downside momentum too as the dollar moves a little higher. Dollar now down only 1.7%. Imagine how bad it will get if the dollar only finishes down 1%.