RE:Gold pricesSenate Repulicans need two key votes: long-time senator Susan Collins from Maine and the other guy Ron Johnson. They both are on the fence as of yesterday and are not supporting bill in its current form.
Senate wants to get the vote going after Thanksgiving so give it at least another week. In the meantime, the press will report on any developments which will influence the US markets (and gold). Trump wants to sign off on tax reform before Christmas were his words.
If the Senate GOP completely votes in unison, the bill goes through to Trump for signing. Let's see if they get all GOP votes together. If not, gold will skyrocket into the new year.
There is definitely an established base of support with PoG at $ 1275.00 visible the past couple months. None of this $ 1260.00 or trending to $ 1200.00 is nonsense. This is now becoming a good time to be in gold...and rather the equities which are completely cheap.
JIN
diceroll777 wrote: I’m not sure how you see lower gold prices. The dollar/euro exchange now sits at 1.17. This is a high for the last several months. When it hit this number, gold popped Friday. The EU has increased GDP to 2.2% from 1.7% in last week. The US stock market is going through ebb and flow with taxes being counted on to be a stimulus. While the house passed a tax bill and stocks got a lift, they will just as surely retreat this week as a senate bogs down and demonstrates at best, reform might come in early 2018. It means that stocks in the US will be choppy the upcoming week and likely go down through Dec. conversely, the EU comes out with their interest and stimulus policy this week which will likely show a normalization which will cause the euro to further go up in the exchange rate. This makes the price of gold to go up further. I just don’t see the pessimism.