Afternoon Update

(USAGOLD – August 20, 2018) – Gold gained some momentum today following Friday’s strong close while the dollar weakened a bit. The metal is  up $17 over the past two trading sessions at $1190.  Silver is down 4¢ at $14.77. Gold was moving sideways until Bloomberg broke the story posted below that the president nominated Jerome Powell for the Fed job thinking he would be a “cheap money” Fed chairman.  Mr. Trump went on to say that he was “not thrilled” with recent rate hikes.  A stronger yuan based on upcoming trade talks between the US and China also helped boost gold.

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