'Trumponomics' Has Commodity Markets Edgy

Day One of "Trumponomics" and uncertainty prevails. The protectionist rhetoric of the new president's inaugural speech has investors on edge to start the week. The uncertainty also stems from Senate Majority Leader Mitch McConnell's priority seeming to be a Supreme Court nominee, Speaker of the House Paul Ryan's priority seeming to be repeal and replace of Obamacare and Trumps's priority seeming to be fighting with the press over the size of the inaugural audience.

All of this has the dollar on its back foot from the Asia opening giving a boost to gold. The gold investors are encouraged by the uncertainty and timing of the implementation of Trump's important policies and now he seems willing to wait for a month to get recommendations from the CEO roundtable he met with this morning. In addition the CFTC report showed little change in gold length after the past weeks grind higher. The Chinese government providing a temporary liquidity injection by approving a cut of 100 basis points in the reserve ratio cut for its five largest commercial banks for a 28-day period. That had some Chinese specs buying hard assets ahead of the Chinese new year, which begins Saturday. Movement in platinum group metals is muted with palladium getting a write-up in Barron's, which can be taken a bit negative on the back of the rapid price rise. Palladium is off a few bucks but mostly on the back of positioning as net length sits at 18-month highs....341 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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