This is NOT a good omen. Last week we mentioned that gold for the first time climbed above $3,000 an ounce. Now, it’s at $3,160, an 8.9% rise in just the past month. This looks like a hedge against inflation and an investor flight to safety.  Since the tariff debate began dominating the policy discussion, gold prices have incrementally risen.

We believe that these inflationary pressures will be relieved when Trump wins reciprocal trade concessions from our foreign competitors, and when Congress moves the Trump tax bill through Congress. So get going.