Gold Crosses Back Over $3,400, While Trump Calls Powell A 'Numbskull' For Not Cutting Rates
President Claims There's No Inflation
The gold price had a big rally on Thursday, climbing back over $3,400 per ounce following a softer than expected PPI report.
Which followed a softer than expected CPI report on Wednesday.
Silver on the other hand was quiet again today, and rose 15 cents to $36.41.
The dollar index continued what's now been a steady decline since January, when it reached over 110, and it’s now below the 98 level.
The fact that just about everyone in the Trump Administration outside of Santa Claus has at this point referenced either what they currently see as the ‘overvalued dollar,’ or talked about devaluing the dollar, likely has a lot to do with the decline.
Also, that the president continues his public criticism campaign of current Federal Reserve chairman Jerome Powell, and today called him a ‘numbskull’ for not cutting rates, probably isn’t helping either.
