Trump’s Turmoil Confirms That Gold Is Still Important

gold bar, gold photo

Despite the U.S. political turmoil surrounding Donald Trump, gold prices are still on the rise.

One reassuring thing that’s come out of the current US political turmoil is that gold is still an important safe haven.  Yes, we live in a new world – digital age, cell phones, fast food kiosks, 3 year olds ordering pizza through Alexa listening in the living room, blah blah.  But when something unexpected happens – boom!  People sell stocks and buy gold.  Yes, the 3500 year old relic.  “The shiny metal you can’t use for anything.”  Why?  Because Maslow’s pyramid was right.  At the bottom, people need security.

They need to know something is constant, and consistently holds value.  That’s why Bitcoin is jumping around like a south-of-the-border jumping bean, and gold is comparatively flat.  So while the current turmoil will end, hopefully not by being replaced by new turmoil, we have still more evidence to add to a 3500 year tall pile that gold is important.  Today’s featured article gives a quick look at current pricing and points at some important levels.

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About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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