Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Update
Gold Reclaims the Support Line
March 17, 2020 - (Gold Market Wire) - Gold prices have turned higher after the White House has unveiled plans for $850 billion dollar stimulus package that may target individual households.
Congressional approval should be nearly guaranteed. There is also news that the commercial paper market, essentially frozen by the Corona Virus epidemic, may be backstopped by the Federal Reserve.
Gold has reclaimed the trend line on the back of the news
Wall Street got their bailout in 2008. Now Trump is going to hand one to the public, in an election year.
Soon, every SME, every individual in the USA as well as every foreign bank , will be on the "payroll" of the US Government and/or the Federal Reserve courtesy of their largesse.
A case for Gold?