- As I said on a prior podcast, this could be the first Presidential Honeymoon to end before the marriage officially begins
- Donald Trump will not be sworn in until Friday
- Yet the Honeymoon already appears to be over for the Trump Trade
- The dollar continues to decline again today; gold continues to rise
- Confounding the experts who, at the beginning of the year, predicted the opposite
- Gold up again today about $14 it was up $4-5 yesterday, on the Martin Luther King holiday
- We’re now at about $1217 for the price of gold
- We’re still below where we were the day Trump won
- But this is the highest we’ve been in about 6 weeks, maybe more
- It’s certainly the highest for the year
- Dollar down across the board; dollar index at the low for the year
- Still up from Trump’s victory but down quite a bit from the highs
- Of course, other currencies, even though the dollar index is down 2%
- You’ve got currencies like the Australian dollar up 4.5%
- So that currency has pretty much recovered everything that it lost based on the Trump victory
- Gold, although it hasn’t recovered everything, it’s still up almost 6% so far year to date
- Silver’s up better than 7% year to date
- Gold stocks, look at the GDX, up 12% so far this year
- That means that gold stocks by far is the top performing sector in 2017
- They were by far the top performing sector in 2016
- I actually think the out-performance in 2017 will be even greater than 2016
- The Dow, down again, at one point it was down close to 100
- Dow transports ended down over 100
- I think the Dow is basically flat on the year – slightly positive
- The NASDAQ was down 35 points; S&P down as well
- So U.S. stocks are barely moving
- Foreign stocks – some of these emerging markets are up huge, especially priced in U.S. dollars
- All the foreign markets, thus far in 2017 are beating the U.S. market
- Again, that is not what all the experts were expecting from the Trump Rally
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