The hard truth remains, economic stimulus continues to be needed as both the Federal Reserve through their monetary policy, and the U.S. Treasury through fiscal policies has ballooned, and more stimulus will likely will be needed.

Both Treasury Secretary Stephen Mnuchin, and Federal Reserve Chairman Jerome Powell spoke to the Senate Banking Committee today.

If not for dollar weakness today’s selloff in gold futures would have been much more severe. The dollar index is currently down approximately 0.80%, and fixed at 99.62.