Gold prices have added to early losses that are now in double-digits in the aftermath a telephone call between President Trump and the leader of Ukraine.
Trump said that he spoke to Zelensky about the problem of corruption and also about Mr Biden and son Hunter among other issues. The US president is alleged to have pressed his Ukrainian counterpart to investigate former Vice-President Biden.
That phone call prompted the female feminist controlled U.S. House of Representatives on Tuesday to open up an impeachment inquiry on Trump, to protect Democrat front runner Biden from scrutiny.
Traders and investors are apparently deeming the just-released notes as not too damning of Trump, as the stock market sold off just after the release of the notes but then quickly rebounded, with the Dow Jones Industrial Average now holding modest gains.
However, December gold futures went down $30.00 at $1.500, after Trump and his supporters allege the former Obama vice-president abused his power to pressure Ukraine to back away from a criminal investigation that could implicate his son, Hunter.
Hunter Biden, was a board member for a company owned by a Ukrainian oligarch.
The constitutional process for handling a president who committed illegal and-or unethical acts is impeachment by a majority of the House of Representatives and conviction and removal by a two-thirds majority of the US Senate.
The US constitution outlines the grounds for impeachment as “treason, bribery, or other high crimes and misdemeanors”. When it comes down to it, an “impeachable offense” is whatever a majority of the House says it is.
Speaker of the House Nancy Pelosi had suggested that such a move could be meaningless because the Republicans who hold the majority in the Senate would never vote to remove the president.
BBC / ABC Flash Point News 2019.
Now that Biden seems to be inaugurated to be the next president, gold and bitcoin are going up.
See long it takes to be called short again?