Crude oil prices got a scare on reports that Gary Cohn, chief economic advisor to President Donald Trump, is resigning, which raised fears that the world is on the brink of an all-out tariff and trade war. Cohn, the former Goldman Sachs banker, is said to be quitting because of his opposition to the steel and aluminum tariffs that President Trump has threatened to put in place.
President Donald Trump’s proposed tariff on imported steel and aluminum, at 25% and 10%, is much more than a shot across the bow. Indeed, this could be the official kickoff of the trade war we all anticipated
A major blow to the EU! The populist Five Star Movement won about one-third of the votes in the Italian general elections. It’s another negative shock for the European establishment. Will these stars shine on gold?