A recent push for peace amidst the ongoing trade war gave the stock market yet another big boost. Meanwhile, gold and silver stay suppressed at what I believe to be their bottom. As I write, gold is currently standing at $1,292 and silver at $16.58. However, not all is lost in the commodities markets with inflated gas prices returning just in time for the summer travel season.
Treasury Secretary Mnunchin went on record Sunday with Fox News saying that the Trump administration’s proposed tariffs were “on hold.” This announcement produced a deflation in any safe haven investing while investors instead opted for short term, high-risk investments, resulting in a 250-point jump in the DOW on the day.
Analysts continue to be bullish in the metals markets as the “everything bubble” grows larger and larger. Adding up all of these factors, it’s obvious that this “trade war sale” is an opportune time for precious metal investors to stock up.
For those of you who have clients considering an allocation into precious metals, this may be just the push they need to move forward. Moreover, it ultimately would be a great time to get them in at a very secure level for wealth insurance to protect their at-risk or dollar-based assets.
As always, our team is eager to help you succeed and help your clients protect their assets. To this end, we’re excited to announce that we will soon be launching a resource we designed to specifically support our contracted advisors – so stay tuned and check our website!