The markets sold off into the close Friday after Iran seized a U.K. oil freighter.  They negated Thursday’s reversal on the daily chart, suggesting lower prices.

Trump warned that China talks could take a long time.  The debt ceiling debate continues.  All eyes are on the Fed as to the amount of the upcoming expected rate cuts.  Fed Funds give a 19% chance of a half point cut in July.

Gold prices reached their highest prices since 2013, an indication that investors view the metal as a good alternative to paper money and government bonds at a time of accommodating monetary policies around the world.


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