Gold jumps late on latest North Korea provocation

LATE REPORT

Gold jumped higher late today in response to the latest North Korean missile launch over Japan. It was already in recovery mode earlier today on favorable interpretations of two key government reports – consumer prices and jobless claims. At this posting, gold is trading in the $1331 range and up about $8 from yesterday’s closing levels.  Silver is up 7¢ from yesterday’s levels at $17.84.

Gold’s been on the proverbial seesaw this week, but on balance showing persistent underlying strength.  Asian trading is surprisingly quiet so far this evening. . . . .

Quote of the Day
“Although we respect the Fed’s independence we are concerned about economic growth. We’re doing everything we can — whether it’s tax reform, whether it’s regulatory relief, whether it’s trade — to create economic growth. And we’re less concerned about inflation at the moment.” – Treasury Secretary Steven Mnuchin


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