Equity Surge Hits The MetalsMonday February 13, 2017 08:33
(Kitco News) - Metals were hit hard yesterday, as the dollar surged along with equity prices on President Trump’s announcement that a major tax reform package would be presented within weeks. The President also mended some fences with China, confirming the U.S. “One China” policy. The anticipation of the tax-reform package should put a bid under the equity markets and the dollar, until specifics are announced and analyzed. There was some technical damage to gold, but the market remains constructive, as long as it holds the $1,220 level. Would need a break of the $1,237 level to resume the uptrend.