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.