Gold and silver had another big day (their second of this week) on Wednesday, amidst the latest stunning financial revelations out of the Trump administration.
The gold futures were up $89 to $4,205.
Meanwhile, the silver price absolutely soared on Wednesday, and is back over the $53 level.
Any time silver’s up over $2 in a day, it’s a noteworthy event. Although especially after the recent sell-off that brought silver substantially lower from its $54 high last month, it’s even more incredible to see today’s move.
CNBC chalked the rally up to optimism about the U.S. government reopening.
I’m not exactly sure how a potential ending of the government shutdown would be the primary driver. Unless maybe the rest of the world has just realized that anytime the U.S. government is operating, it’s going to spend money it doesn’t have, which will continue putting pressure on the dollar.
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