TRUMP SIGNS BORDER WALL EXECUTIVE ORDER
This is President Trump’s third day in office. Let’s recap what he has done so far.
- Trump withdrew the U.S. from the Trans Pacific Partnership
- Trump met with Auto-CEOs and made clear he wants manufacturing jobs to come back to the U.S. The president said he plans to impose a high border tax, reduce regulations, and reduce corporate taxes from 35-percent to 15 or 20-percent.
- Trump is allowing Keystone XL and Dakota Access to move forward on construction
- After continuing to insist that he lost the popular vote because of voter fraud, Trump promised on twitter to investigate voter fraud. “I will be asking for a major investigation into VOTER FRAUD, including those registered to vote in two states, those who are illegal and even, those registered to vote who are dead (and many for a long time). Depending on results, we will strengthen up voting procedures!”
- Today Trump will sign executive orders to:
-- Begin funding and contruction of a wall along with Mexican border.
-- Restricting access to the U.S. of people from Iraq, Iran, Libya, Somalia, Sudan, Syria and Yemen.
Gold and silver sold off hard this morning, with silver down .50 to a low of $16.75, and gold down $25 to a low of $1193.
With options expiration for February gold on Thursday, it appears the bullion banks are intent on capping gold under $1200.
Chinese markets are closed for the next week for Chinese New Year, and the Fed's FOMC Meeting is scheduled for next Tuesday and Wednesday, so caution is urged over this short term Triple Witching Week - particularly as the metals have just completed 6 weeks of nearly uninterrupted gains.
Platinum also sold off hard this morning, down 2.5% after a big rally to start the week, with the tiny market bursting over $l,000/oz, likely triggered by investment demand due to the US Mint's launch of the 2017 Platinum Eagle coins.
The Mint released 20,000 coins Monday and Tuesday - matching 2016's small production - which triggered a mad scramble among wholesalers and retail dealers to source inventory, and saw wholesale premiums soar for the coins.
The Mint advised Authorized Purchasers that it will make a decision at a later point regarding a second small production of the famous platinum bullion coins during the second half of 2017.
also I'd mention DOW passing 20,000 today markets wise
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Posted by Nicole Bourbaki