Today gold traded under moderate pressure, and as of 5:00 Eastern Standard Time, is trading approximately $10 lower (spot gold) at $1231, with April futures trading roughly 6 ½ dollars lower at $1233 per ounce.  This ended the daily advance in gold, which had prices increasing over the last five consecutive days.

For the fifth consecutive day, gold prices have traded to higher pricing. But the real story is that gold has been gaining ground, now adding over $100 since trading to a low of 1125 per ounce in December of last year. The last time gold prices were this high was on November 11, just following the post-election selloff, which took gold prices over $200 lower.

Gold prices moved up modestly today, gaining 2/10 of a percent ($2.50), and as of 3:30 Eastern Standard Time, gold futures are trading at $1235 an ounce. This is based on the most active April 2017 Comex Futures contract. Gold pricing continues to hold steady after reaching a three-month high in yesterday’s trading activity.

Gold prices traded dramatically higher today, moving to a price point not seen since November 11, 2016. As of 4 o’clock Eastern standard time gold futures (April 2017 contract) were up 16.6 dollars at $1237.50

Typically risk-on and safe-haven assets have a negative correlation. On most occasions, they tend to run in opposite directions. There are exceptions to that rule. The most noteworthy is the bull run of 2009 in which gold and stocks experienced dramatically higher prices. Both asset classes reacted favorably as a direct result of the initiation of quantitative easing by the Federal Reserve.

Just like an airplane circling the airport, global Central Banks are in a holding pattern as they wait and assess the effect of policy implementation and the leadership style of President Donald Trump.

For the first time this year, Federal Reserve officials met and voted to keep interest rates unchanged. In a ten to zero vote, Federal Reserve officials unanimously decided to maintain the current Fed Funds rate.

In his novel, A Tale of Two Cities, Charles Dickens writes, “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness,” to illustrate the duality that existed between the classes during that time period.

In his first week in office, President Donald Trump addressed many of the issues needed to boost the economic revitalization currently taking place. For the most part, the corporate community, as well as investors and traders, saw this as a positive move forward. The net result was the US equities markets trading to a new historical high last week.

President Donald Trump completed his first full week in office and it has become extremely evident that what you see is what you get. In other words, the Donald Trump that campaigned for president, with all of his strengths and weaknesses, is the same Donald Trump now occupying 1600 Pennsylvania Avenue.