Gold Jumps as Dollar Slides after Trump Press Conference
Samuel Gee, News Editor
12 Jan 2017, 12:29 p.m.
Gold rose for a fourth consecutive day thanks to a weakened dollar after Donald Trump’s first formal press conference since winning the election in November.
A lack of time spent discussing Trump’s expected fiscal stimulus plans led to a market sell off as doubts about the long term durability of recent market gains. With Trump’s inauguration just a week away, we will soon witness the reality of Trump’s economic plans.
However with this current level of uncertainty investors are afraid of being caught out should the recent market gains prove to have weak foundations.
As a result gold moved back above $1,200/ oz t for the first time since November.