Late yesterday, President Trump proposed new tariffs on Mexico that would go into effect on June 10th. World markets promptly slid while gold rose through the night, past its high from over two weeks ago.
This marks the first overall monthly gain for gold since January of this year. The new tariff threat is making safe havens shine, helping the yellow metal flirt with $1,300 this morning.
On a Personal Note
I am announcing that this will be my last day working at Dillon Gage which makes this my last comment for The Market Gage.
I would like to thank the management team for giving me the opportunity to work for such a fine organization. From the owner, Steve Miller, to Terry, Jon, Ryan, Mark, Sid and Ira, I thank you for your support.
In my 43 years in the industry, 39 years working on Wall Street for the same company and the last almost 4 years here at Dillon Gage, I must say I enjoyed every minute.
To all Dillon Gage clients, please continue to give your business to the folks at Dillon Gage. You will never work with a group of people who have more class and conduct themselves with higher standards.
I also want to thank my friends at all the news services. The Wall Street Journal, Reuters, Bloomberg, Investing.com, U.S. News and World Report for publishing our comments in your news articles over 720 times this last year alone.
And to the clients and friends I made while working here. Thank you for your business and constant questions about the markets, you kept me at the top of my game.
Thank you all and have a wonderful Friday.
Disclaimer: This editorial has been prepared by Walter Pehowich of Dillon Gage Metals for information and thought-provoking purposes only and does not purport to predict or forecast actual results. This editorial opinion is not to be construed as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein cannot be attributable to Dillon Gage. Reasonable people may disagree about the events discussed or opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. It is not a solicitation or advice to make any exchange in commodities, securities or other financial instruments. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.