Reuters/Jan Harvey/03-27-17
Gold rallied more than 1 percent on Monday after U.S. President Donald Trump’s failure to push through a healthcare reform package on Friday raised questions over his ability to deliver promised tax cuts and spending plans.
That knocked the dollar to a four-month low versus a currency basket and drove a drop in stock markets, with European indices sliding nearly 1 percent in early trade and U.S. stock index futures hitting six-week lows.
…”Trump’s spectacular failure to get his health bill through Congress raises concerns about his ability to achieve his goals on other policies,” Saxo Bank’s head of commodity research Ole Hansen said.
“With stocks, the dollar and bond yields lower and geo-political risks on the rise, gold may stand out as the commodity of choice at such time.”
PG View: Gold is certainly standing out this morning. Silver is doing even better!
