October 25, 2017

Gold prices are trading $1,273.50/oz., down $3.00 against the backdrop of a strong dollar, a record close in the Dow and higher US 10-Year Treasuries, which are yielding over 2.40% for the first time since May. President Trump is considering whether to replace Fed Chair Janet Yellen with someone more hawkish; he should announce his decision by early November.