Gold Price Declines, But Quickly Recovers [Details]

decrease stock chart
Written by Mike Hammer

President Trump’s tweet about delaying tariffs on Chinese goods reversed the stock market’s slide yesterday and sent gold into a tailspin.  But only briefly, as it turned out.  After dipping down to 1490 yesterday, this morning gold is right back up to 1513 in pre-market US trading. So no harm, no foul, right?

Gold bulls want to see gold stay above 1500, so that’s the number to watch. The core economic news to keep an eye on now is the appearance of negative-yield bonds, which will likely drive more money into safe havens such as gold. Today’s featured article gives the rundown on this, and projections of where gold is heading as a result.

Continue reading at Metal.com

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

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 keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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