Wednesday, April 26, 2017
President Trump’s tax plan is a key focus today as pundits babble
President Trump’s tax plan is a key focus today as pundits babble on about what is in it without actually having all the facts. Two key points I have read is a significant cut to corporate/business operating taxes and a cut on US Foreign earnings repatriation which is supposed to bring monies back on shore and drive more hiring and spending domestically by corporations. It will be interesting to see how it effects the debt ceiling event on Friday of this week. The French elections remain front and center and will be so until it passes May 7. As long as the market is buying a Macron expected win pressure will remain on the gold. The precious metals complex is no longer looking very bullish if gold were to trade down to the strong support level at 1245 or break lower that would signal a complete change of direction. Palladium remains the only bull in town but for now while silver is under attack.