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Stocks got a big lift Wednesday as investors seemed content with Republicans keeping the Senate but losing the House. Precious metals markets, meanwhile, softened. Selling hit gold and silver on Thursday as the Federal Reserve issued a fairly hawkish policy statement, and that softening in the precious metals has continued here today on Friday. That obviously poses risks to all markets, including stocks, bonds, and metals. However, gold has been relatively resilient throughout this long, drawn out process. Gold trades today at more than $150 above where it bottomed in late 2015. As of this Friday recording, gold prices come in at $1,210 an ounce, down 1.9% now for the week. Silver looks lower by 4.3% since last Friday’s close to trade at $14.15. Platinum is off 2.2% at $859. And finally, palladium shows a slight weekly loss of 0.4% to trade very close to an all-time high at $1,117 per ounce. Many precious metals investors want to know how the new Democrat-controlled House of Representatives will affect markets. It certainly could pose some new threats to the President’s agenda and to wealth holders. Expect to see major attacks and investigations directed at the Donald Trump White House, and possibly even Articles of Impeachment. However, the Republican-controlled Senate will be able to thwart any House-passed legislation it doesn’t like – and will have a free hand to confirm a slew of judicial appointments. ================== |
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