So What's Going On With Precious Metals?
It's hard to turn on the TV or go online without hearing about President Trump. Like everything else, his long-term effects on markets are still unknown, however, the short-term effects of his policies have had very positive effects on stocks, with all three major indices hitting record highs.
Overall, investors have been focusing on the positives, particularly the tax reform plans. However, there is a lingering uncertainty that cannot be dismissed. Economic growth slowed to 1.9% in the fourth quarter of last year, and economic growth in 2016 was the worst in five years. On top of all this, Trump has made it clear that he feels the dollar is too strong---this is why gold and silver are stealthily moving higher.
So, how are markets doing so far in 2017? You might be surprised. Here's a look:
DOW is up 4.32%
NASDAQ is up 7.8%
S&P500 is up 4.5%
GOLD is up 7.3%
SILVER is up 13.1%
It's easy to get distracted these days, that's for sure. Even we were surprised at these performance numbers for 2017. If there is a weaker-dollar policy moving forward and if the stock markets experience a correction from the "Trump Rally", then you can be pretty sure that precious metals will shine as a safe haven.
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