Jan 28 2017

Activity Slows in China, Gold Dips

Economic activity slows in China, as they celebrate the Lunar New Year with gold dipping. At the New York Mercantile Exchange on the Comex division gold for February delivery dipped 0.54 percent to $1,183.40 a troy ounce. Silver futures for March delivery also fell 0.75 percent to $16.723 a troy ounce. While copper futures rose 0.08 percent to $2.664 a pound.

US investors overnight moved away from buying gold and with the US dollar and stocks rallying sought equities instead. Market confidence in the Trump administration policies and the strengthening of the US dollar saw the safe haven of gold appeal diminish.

President Trump has signed executive orders to build a wall on the US-Mexico border and has placed a ban on refugees entering the US, temporarily. Visa applications will undergo extreme vetting.
Keeping his campaign promise to the people, President Trump also formally withdrew the US from the Trans-Pacific Partnership trade deal.

Signed executive orders to build the Keystone XL and Dakota Access oil pipelines. These signed orders will undo some environmental rules from the Obama era making way for infrastructure projects. Global markets are poised to see what he will do with tax reform and his promised spending on infrastructure. Also what his foreign policy with Russia and China will be.

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