Markets Clear Throats for 'Big Speech'?

As we approach the president's "big speech" tomorrow night, we have seen markets trade in a muted fashion. That said, gold made new multimonth highs this morning before retreating on decent volume on the come trading platforms. The dollar was a bit weaker this morning as it is unknown what the heck Trump may say (or how he will say it) except to ask for increased spending on the military and infrastructure. 

As I said in my prediction for February's price action, I felt gold (and the rest of the precious-metals sector) would perform well, especially against the euro in the second half of the month as it becomes more evident that "the Donald's" tax plan would be pushed back further. Despite Treasury Secretary Steven Mnuchin's comments last week that he expected the tax plan to be done by August, I see this as a 2018 event because of the focus on repealing and replacing Obamacare first, as well as President Trump's insensitivity to building a coalition in the legislative branch to get things done. ...362 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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