Gold Spikes On Heavy Volume As ‘Memo-Gate’ Fears Spread

While the dollar is treading water in aftermath of NYT’s ‘memo-gate’ story…

Another safe-haven is heavily bid. Over one billion dollars notional just pushed through gold futures, lifting the barbarous relic to 2-week highs…

US Equity futures are fading…

“At the very least the view is that Trump’s economic policies will be delayed over this, and the dollar is being sold,” said Tomoichiro Kubota, an analyst at Matsui Securities Co. in Tokyo. “At the moment there’s a strong sense of investors trying to gauge how far this will go. It’s a situation where you can’t completely rule out the possibility of impeachment down the road, so it’s difficult for investors to buy.”