FLASH GAGE- Dollar in Free Fall – Gold Rises

Flash Gage - News Headlines that Impact precious metals as they happen.

The US dollar in free fall this morning after comments by Peter Navarro, the head of President Trump’s national trade council, who said, “the Euro is grossly undervalued.” These comments echoed comments made earlier in the month by then President elect Trump that the US Dollar had gotten to strong.

The dollar index has broken thru the 99.50 level at the time of this “Flash Gage” and has given gold a boost, trading up over $ 20.00 on the day. Silver also benefitting from the rally is up over $.32 cents.

The 10 year treasury yield also taking it on the chin this morning down.0403.

Today is the first day of the FOMC meeting with an announcement on rates tomorrow expected at 2pm est. With the odds of a rate hike predicted by the CME FED WATCH Tool at only 4 pct. just a same old, same old response is expected Chairwomen Janet Yellen tomorrow. As always we await the language shared after the meeting.

Have a wonderful Tuesday.

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