Typically when stock market prices are rising, the price of gold is falling. But that’s not the case today.
Gold prices have been trending upward since 2016, with a slight retrenchment after the election. Most of that “Trump Trench” has been eliminated as prices rise again. Gold is holding near new 2017 highs. David Hodari writes at The Wall Street Journal:
Gold’s rally paused Wednesday, after hitting fresh 2017 highs on Tuesday on the back of increased macroeconomic and political risk.
Gold for August delivery settled down 0.3% at $1,293.20 a troy ounce on the Comex division of the New York Mercantile Exchange, breaking a three-session winning streak.
Gold might be telling the market that everything’s not all right.
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Dick Young
Richard C. Young is the editor of Richard C. Young’s Intelligence Report, and a contributing editor to both Richardcyoung.com and Youngresearch.com.