Just touched £4k here in the UK
Gold surged to $5,500 in a blistering rally despite one of Donald Trump’s top officials seeking to stabilise the dollar.
Bullion climbed another 4.6pc to $5,542 as fears over the future strength of the US currency gripped markets.
Metals have rallied this week after the dollar hit a four-year low against the pound and other major currencies.#
How I love my little yellow friends 
That supposed 4yr low for the $US dollar (black line) isn’t much of a low, nor has the pound (blue line) done very well either, for both having traded mostly sideways the last 4 years. But you’re right about gold (gold line), which has done well.
I wondered why gold prices had suddenly dropped:
The sudden demise of a major gold trading platform has rocked the southern Chinese city of Shenzhen, leaving tens of thousands of retail investors with combined losses totalling more than 10 billion yuan (US$1.4 billion), according to investors and domestic media reports.
One Asian bucket shop going broke doesn’t explain today’s drop in gold and silver prices. Also, look at the diff between the price for paper silver in NY and London vs the price for physical in Shanghai. Also, there were market fears that Trump’s Fed head pick might be sound money Sheldon rather than money printing Warsh.
This story has months more to play out.
I find that the gold market and to some extent silver market is a bit different to other markets.
At times it seems to be ruled by FOMO, rumours and speculation rather than sound commercial reasons.
There was also the possibility of Trump attacking Iran which seems to have receeded a bit.
Who knows!
Also, the gold and silver markets are becoming different from each other, especially as silver becomes more of a strategic industrial metal rather than just a junior member of the precious metals complex.
