It would appear that a meeting may still take place
(Is Trump playing the markets?)
Donald Trump has said "very productive talks" are ongoing with North Korea over reinstating a summit with leader Kim Jong Un, adding that if successful it will likely take place in Singapore on June 12
Donald Trump has said "very productive talks" are ongoing with North Korea over reinstating a summit with leader Kim Jong Un, adding that if successful it will likely take place in Singapore on June 12
Gold has had a pretty good couple of days. It is up 4 of the last 5 sessions and has made back more than 50% of the big down move on May 15th after the announcement of a U.S./North Korea summit. Really that tells you most of what you need to know in terms of drivers for gold these days. The dollar strength is one of them helped along by weakness in the other major currencies which we wrote about here and here. This inverses relationship can only really be broken by geopolitical turmoil and President Trump gave gold a bit of that when he canceled the aforementioned summit. He also warned of potential new tariffs on all imported automobiles being sold in the U.S., which could weaken the dollar with the implication of slower global growth and a more dovish Fed, thereby strengthening gold.
Ahhh snoozing, I can if I try hard, but generally that gives me headaches ....lol
Tro will have to learn a new way of life next week........ and that isn't always easy