Open menu Close menu Menu
Open charts menu Close charts menu Charts

Call us: 0121 634 8060, 7 days, 7am - 10pm

Free Insured Next Day Delivery

Ounce Gram
Gold £1245.93 £40.058
Silver £14.221 £0.4572

Updated 20:44 19/02/20

£ $

Nerves over Trumponomics sends gold to two-month high


Adam Pike, News Editor
24 Jan 2017, 10:26 a.m.

The gold price denominated in U.S. dollars reached a two-month high yesterday as investors reacted to increased economic and geopolitical uncertainty. The yellow metal has advanced by 6% since the turn of the year, but is down over $120 per ounce since Donald Trump won the race to the White House.

Bears are betting that Trump will inject a new lease of life into the American economy, leading to higher interest rates and a stronger U.S dollar. The bulls on the other hand believe that Trump will increase government spending, triggering a stampede into gold bullion.

Overnight Trump followed through with his campaign promise to withdraw the country from the Trans-Pacific Partnership. The dollar immediately weakened against a basket of the world’s leading currency pushing the value of gold to a fresh two month high. Sterling hit a five-week high of $1.245.

View original source at: www.mining.com

comments powered by Disqus