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Wall Street senior prophet: gold expected "rockets" Soaring 1400 US dollars just around the corner

I think the stock market has overpriced the positive impact of the trump tax cuts, "Schiff said." however, these tax cuts are not stimulating the economy as much as people believe." The stock market has also hit record highs since President Donald trump signed tax legislation in late December that would provide the biggest tax cut in more than three decades starting in 2018.

However, as the yield on the 10-year Treasury note rose, us stocks suffered their biggest fall this year on Monday, raising fears that higher interest rates would kill off the bull market.

On Monday, the standard & poor's 500-stock index fell 0.7% to 2,853.53, its fifth decline this year and its biggest one-day drop in five months. The dow Jones industrial average fell 177.23 points to close at 26,439.48, its biggest drop in 2018. The nasdaq composite index closed down 0.5% at 7,466.51.

Goldman Sachs, the world's leading investment bank, issued a warning that "pullback signals are flashing" and advised its clients to prepare for a pullback in the coming months as investors poured money into equities.

International spot gold Tuesday (January 30) Asian session lower, and hit intraday1333.90The dollar/Schiff said the consensus in the past was that a fed rate rise would depress gold prices. However, gold has risen 9 per cent since the fed raised rates in December.

Schiff said the consensus in the past was that a fed rate rise would depress gold prices. However, gold has risen 9 per cent since the fed raised rates in December.

He added that if gold could break resistance around $1,350 an ounce later, it could break the round $1,400 mark in the future.

Spot gold was at $1,335.48 an ounce at 14:41 Beijing time.

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