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The precious metals climbed higher again on Wednesday, continuing their rebound after last week's sell-off, with silver making the bigger move this time.

The gold futures were up $8 to cross back over the $3,400 level to $3,407.
 

Silver was up 55 cents on Wednesday, which leaves the futures at $38.55.
 

When you take a step back and see silver back up at $38.55, in some ways, it’s rather incredible, especially given how just less than two weeks ago, the price had sold off down to $36.62 on August 1. And here you can see in the 1-month chart just how volatile the silver price has been over the past few weeks.
 

Perhaps that's somewhat to be expected, given how close the silver price came to breaking the $40 level in late July, when the futures got as high as $39.91. And it's actually not entirely dissimilar from the price action around the $30 level, which I'm guessing you probably still remember quite well from just slightly over a year ago.

For today's column, though, I want to keep the written part short, as I posted a video that, despite being somewhat on the longer side, I really do highly recommend.

I mentioned yesterday how I finally had a chance to interview Michael McNair, who has written about Chairman of the Economic Council of Advisers Stephen Miran's paper on restructuring the global trading system, and the signs that the Trump administration has already been active in the markets.

Especially right now, where it's often hard to tell what the Trump team is really doing behind the scenes, Michael provided one of the more informative interviews I've done in the time I've been hosting the show.

He explained how the administration has been influencing the dollar, what they're hoping to achieve, and whether they have actually been successful so far in implementing that plan.

As you likely may have noticed, I've been growing more concerned by what I've seen from the Trump administration in the past few months. Although in addition to presenting a master class in explaining what's been going on and why, Michael did leave me with a bit more hope that their strategy could work out better than it often seems.

So, whether tonight or in the near future, I think that if you're able to find the time to watch this, you will benefit from having done so.

Video Length: 01:05:26

I think this interview also gives great insight into what you can expect in the months and years ahead, so hopefully you will get a chance to watch, and it can be a helpful part of your own journey through this upcoming period of change.

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