Forbes discusses Donald Trump’s chances at reelection and lays out the case why you simply must have at least some gold in your portfolio. So be sure to stick around for an encore of Money Metals exclusive interview with Steve Forbes, coming up after this week’s market update.

It’s been a big week of geopolitical strife and potential crisis points for financial markets. The week began with one of the biggest single day oil spikes on record, then saw the Federal Reserve lose control of its own interest rate in the repo market before announcing another rate cut.

Yet these and other developments are having surprisingly little impact on Wall Street. We aren’t seeing huge stock market gyrations or a mass migration by investors into precious metals. The S&P 500 is essentially flat for the week while gold prices are trading modestly higher.

As of this Friday recording, the yellow metal comes in at $1,505 an ounce and is posting a weekly gain of 1.0%. Silver is showing some relative strength, up 1.9% since last Friday’s close to trade at $17.86 an ounce. Platinum is essentially unchanged at $950. And finally, palladium shows a weekly gain of 2.4 % to come in at a lofty $1,653 per ounce.

On Wednesday, the Federal Reserve cut its benchmark Fed funds rate by a quarter point. Though the move was widely expected, it was not without controversy.

The Federal Open Market Committee showed some unusual division within its ranks. One policymaker favored a bigger cut while two wanted no cut at all. The more hawkish voices within the Fed objected to the cut on grounds of inflation risk – especially following Monday’s $9 spike in crude oil.

Other current and former Fed officials are taking great umbrage at the idea of using loose monetary policy to help facilitate President Donald Trump’s trade policies. Of course, it is impossible to separate that particular objection from underlying political biases at the supposedly non-political Fed.

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